Cardano Could Hit $1.35 Despite Market Dip, Says Analyst

Cardano’s price fell 2.35% to $0.72 today, as the crypto market stumbled. But some analysts remain excited about its future.

Analyst predicts Cardano could hit $1.35 soon and even reach $5 in a strong bull market. Despite the drop, they see a bullish pattern forming that hints at a big comeback.

Technical Pattern Points to Growth

It is to be falling wedge pattern in Cardano’s price chart, where the price broke out and is now retesting the resistance line as support. 

This is a strong sign for buyers, showing they’re gaining momentum. If the market turns upward, Cardano could surge 101% to $1.35, with $5 as a long-term goal.

However, the odds of a spot Cardano ETF getting SEC approval dropped from 89% to 80%, creating some uncertainty. Still, ADA’s growing DeFi presence, with over $325 million in total value locked, and the Midnight Airdrop increasing its 3.1 million holders keep investors hopeful. 

If the broader crypto market rallies, Cardano’s price could climb, proving the bullish predictions right despite today’s setback.

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