Cardano Price Eyes $1.3 As Price Forms Strong Double Bottom - The Market Periodical

Key Insights

• Cardano price was showing a strong double bottom formation as it held strong around the $0.65 zone. Buyers were clearly stepping in at this range, indicating clean structure and steady volume.
• If it breaks this key support zone, it could see a potential 100% move to $1.30. However, Bitcoin needs to stay stable. This could see ADA become one of the first to push higher again.
• Whales sold about 40 million ADA tokens in the last week.

Cardano price crashed below $0.40 during the broader market crash, resulting in more than $19 billion in liquidations. ADA crypto was still dropping in price, with a day’s change of more than 18%. At the same time, volume spiked by 285% during the same period.

Analysts anticipated a potential rebound in Cardano price. The altcoin was establishing a solid support level around $0.66.

The rebound was not straightforward, as whales had sold a lot of tokens just before this crash. This reflected that there was still weakness in the market, but not as severe as it had been before.

Cardano Price Eyes Rebound

On the charts, ADA crypto was stabilizing at the $0.66 zone. This was consistent with the author’s analysis on CoinMarketCap, which showed strong buyer support in the same range.

The chart stressed the sudden drop, which was followed by an upswing. This suggested a consistent volume and a clean structure as buyers made some of their entries.

Cardano price was hovering around a critical support zone, where approximately three 4-hour candles had failed to break below. This marked a crucial period of consolidation.

A striking upward candle at this point solidified the analyst’s opinion of the possible interest of the buyers. He further noted that if Bitcoin (BTC) did not collapse again, ADA crypto may lead a positive charge.

This approach may challenge the resistance levels above $0.80, which was the optimistic target. Momentum suggested a possible breakout in price action.

If the support level held and market conditions improved, the next short-term target was $0.95. Further analysis revealed that there were other ambitious targets.

What’s Required for Cardano Price to Hit $1.30?

For the Cardano price to reach the $1.30 target, two key factors were crucial. One of them was that Bitcoin had to remain robust to support the broader strength of the crypto market. Also, the volume of buyers could not be overlooked.

On the daily timeframe, ADA crypto formed a strong double bottom pattern, with support located around $0.65. The recent rebound to $0.665 indicated early positive momentum. The rally period could fall between late 2025 and early 2026.

Historically, the pattern signaled price reversals to the upside. That said, the projections showed a hold above this zone would be the first step towards a 100% movement.

CoinMarketCap’s analyst Crypto Cred wrote, “ADA showing a strong double bottom formation. If it breaks this key support zone, we could see a potential 100% move ahead! Target: ~$1.30”

The $331.96 Million in volume favored the breakout thesis. This hinting that the target could be achieved as long as the support zone remained solid.

Cardano price aimed for $1.30, which was a key resistance area, as it coincided with the 2024 high. This indicated that there was potential for significant upside, provided that the momentum continued.

Whale Activity on ADA Crypto

Despite this positive projection from analysts, there was still reason to stay cautious. Whales had sold over 40 million ADA crypto in the past week, just before this crash. This denoted the prowess of whales in detecting market direction.

A return of whale accumulation could signal the time for a reversal. In the event of market strength, the Cardano price could surge to $0.80 and eventually reach $1.30.