Cardano’s Ultra Bullish Breakout: Analyst Targets $1.83 as Next Easy Price Level

In his latest TradingView update, MasterAnanda outlined how Cardano has joined the broader cryptocurrency market’s upward momentum, outperforming most of its peers. Over the past 24 hours, ADA surged 13%, marking the most significant daily gain among the top 10 cryptocurrencies by market capitalisation. On a seven-day scale, Cardano has appreciated by 19.57%, making it one of the strongest performers in the large-cap altcoin space.

Major Bullish Signals Confirm Cardano’s Uptrend

Several catalysts now back this bullish scenario. One of the most significant is Cardano’s recent golden cross on the weekly chart. The fxcryptonews reported that this marks ADA’s first-ever weekly crossover between its 50-day and 200-day moving averages, a classic indicator that a strong bullish trend has taken hold.

In an earlier analysis, MasterAnanda emphasised that Cardano needed to flip above its 200-day moving average (MA200) to confirm its bullish bias fully. His prediction has now materialised. A massive weekly candlestick has pushed ADA decisively above the MA200, which currently sits around $0.644. This breakout places Cardano in a prime position for sustained upward momentum.

Strong Support Zone Adds Fuel to the Rally

Before this confirmed breakout, Cardano had already shown resilience by holding firmly above a crucial support level. MasterAnanda noted that a five-month-old demand zone has acted as a solid foundation, providing the momentum needed for this fresh surge. Additionally, Bitcoin’s steady rise to new all-time highs has added extra firepower to ADA’s bullish trajectory, giving the broader altcoin market a confidence boost.

Eyes on $1 and Beyond: Analyst Highlights “Easy” Target

MasterAnanda now projects that this momentum will lead to an “easy” run toward prices above $1. He expects ADA to print a major higher high, similar to patterns seen between November and early December 2024. His main target sits at $1.83, a level Cardano last touched back in November 2021. From the current market price of nearly $0.690, that would represent a 165% gain.

Interestingly, he views this $1.83 target as conservative, calling it just the beginning of ADA’s next parabolic move. He encourages traders to consider adding to their ADA and other altcoin positions now, predicting robust long-term growth as this bullish cycle unfolds.

Other Analysts See Bigger Upside for ADA

MasterAnanda’s bullish outlook aligns with several other optimistic predictions for Cardano. For example, Bitcoinsensus recently identified an ascending broadening wedge on ADA’s chart, suggesting a potential push to $2.40. Meanwhile, well-known market veteran Dan Gambardello sees ADA breaking its previous all-time high of $3.16 and soaring as high as $10. He calls this target realistic, supported by factors such as the progress of Bitcoin DeFi, the likelihood of a spot ETF approval, and the potential inclusion of crypto in the US strategic stockpile.

Another respected voice, Ssebi, has echoed this ambitious price path, citing the same catalysts. If these developments come together, ADA could enjoy a remarkable 1,349% surge from current levels.

Final Thoughts: A Breakout to Watch

Cardano has now delivered on several bullish signals that analysts have watched for months. With its first-ever weekly golden cross, a decisive move above the MA200, and strong support holding up, ADA appears ready for its next leg higher. If this trend continues, the “easy” target of $1.83 could soon be within reach, and even bigger gains might follow.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.