Cardano is currently showing signs of activity again and is doing its best to emerge from the current price slump. The token is currently forming a new price development on the charts, indicating the potential for price appreciation if ADA is able to break out of the current price pattern and form its own price trajectory. How high is ADA going to skyrocket? Let’s find out.
Cardano plans new price path
ADA, in particular, is one of the most promising cryptocurrency coins that exist in this space. As stated by crypto analyst Dapp Analyst, the token is currently inching towards new highs. The expert asked X to share an update and added that ADA’s chart shows a bullish break, a pattern that favors a healthy price rally in the near future. The expert later added that when this sign appeared in the early cycles, it helped Cardano soar up to 87% in the process.
According to experts, if this pattern appears on ADA’s charts again, it could ultimately help the token rise and make new highs.
“$ADA is currently forming a bullish divergence on the daily chart. 📈 The last time ADA did it, it rebounded from $0.54 to $1.02, or 87%. The Stoch RSI on daily and weekly time frames has also bottomed out. This is a multi-month movement, not a 15-minute chart. 👀 At these prices, Cardano ADA is undervalued according to the charts 📊.
Have you found a new target?
According to another well-known expert, Eric Krypto, ADA is targeting a new high of $0.93 over time.
“Cardano ($ADA) is showing a potential breakout setup! Price is holding firm near key support ($0.60) and a downtrendline break is in sight 👀 Target: $0.93 | Stop: $0.50 If the bulls intervene, ADA could see strong momentum ahead! 🔥”