The price of Cardano has witnessed a delightful tour during the past few days, which witnessed a great outbreak of monotheism below the level of $ 0.6. Before increasing the last prices, Altcoin was often moving side within the range of $ 0.5 and $ 0.6.
Interestingly, the price of Cardano seems to be at the beginning of what is expected to be a brutal gathering in the next few months. An expert of encryption on the social media platform X offers an exciting road to the highest levels of ADA symbol.
Ada in the distribution stage – an ideal purchase opportunity?
On July 11 at X, Alphractal founder and CEO Joao Wedson subscriber A rising image of Cardano in the coming months. The expert on the series put a brand of $ 4.9 as the market leader for the ADA code in the next stage.
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This bold projection depends on a continuous upward canal style on the daily Cardano price scheme. The upholstery canal is a striped pattern in technical analysis that is characterized by the main trend lines (upscale): the upper line works as the level of resistance and the lower line that works as the level of support.
The gap between these lines is usually considered a channel where prices move over a period-while indicating a long-term upward trend. Traders often use this style to determine the optimum entry and exit points, as the price usually bachers from the higher resistance level and a decrease in support direction line.
As observed in the above chart, the price of Cardano was circulated within the thunderbolt channel since the first half of 2019. After declining to the minimum direction line earlier this year, the ADA price was soon found support and a bounce to the highest level of one dollar in the first quarter of 2025.
However, Altcoin – as with the rest of the encryption market – witnessed a severe shrinkage witnessed the return of the price of Cardano to the lower direction line in late June. Interestingly, the code price seems to have found support and recover well.
WEDSON revealed, in its post on X, that what Cardano suffers from is more than just a recovery, because Altcoin may ever exceed $ 3.09 at this stage. According to the series on the series, the Ada icon can be traded much higher than $ 3 by late October or early November 2025.
Moreover, Wedson indicated that the current level may be the appropriate time for investors to jump to the Ada code, where it is still in the short term distribution. The analyst concluded that “this may break some patterns of technical analysis, but the series’s analysis appears to be promising in several aspects-and this is what I like.”
Cardano price at a glance
From writing these lines, the ADA price is about $ 0.7124, which reflects approximately 6 % in the past 24 hours. This positive procedure confirms in one day the general stunning that altcoin has witnessed in the past few days. According to data from Coingecko, ADA has increased by almost 30 % in the past seven days.
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Distinctive photo of Pexels, tradingView graph
The post Cardano Price Explodes 30% In Past Week — Analyst Calls $5 Next Market Top first appeared on Investorempires.com.
