Cardano price analysis suggests a 15% surge to $0.790, with key buy levels offering a dip opportunity ahead of the expected upswing.
The price prognosis of Cardano (ADA) predicts a 15% increase to $0.790 shortly.
Investors will probably have the chance to accumulate ADA before the commencement of this upward trend.
This optimistic outlook results from the publication of bullish Cardano news, in which Charles Hoskinson unveiled the first Bitcoin DeFi solution.
Cardano Price Analysis: Technicals Converge, Predict 15% Rally
Since the $1.326 apogee on December 3, 2024, the daily Cardano price chart has maintained a consistent downward trend.
This negative trend has generated five distinct lower highs. Nevertheless, ADA has established a higher low at $0.511 on April 7 and $0.616 on June 5, following the swing low of $0.506 from February 3.
Intriguingly, the ADA crash that resulted in the formation of the June 5 swing point flashed multiple on-chain purchase signals for Cardano.
The trend remains adverse despite this development; however, the Relative Strength Index (RSI) and Awesome Oscillator (AO) suggest a few improvements.
The RSI has rebounded from the oversold level and is currently in competition with the mean level of 50, indicating an apparent attempt by investors to regain control.
The same can be said about the AO, whose histograms have flipped green below the zero mean level.
This development implies a decrease in adverse momentum.
The Cardano price is on the brink of a bullish reversal, as evidenced by the numerous indicators on the one-day chart.
The 4-hour Cardano price chart offers a nuanced perspective and a favorable trade opportunity.
The June 5 bottom at $0.616 sparked a 15.71% rally, resulting in an equal high at $0.715.
Traders can purchase the decline in ADA before the token establishes a higher low compared to the June 5 bottom, which will initiate the rebound.
A breaker is a supply zone that has been reversed, resulting in the entrapment of short sellers.
This technical configuration is comparable to how a reversed resistance functions as a support.
The aforementioned supply zone was transformed into a bullish breaker on June 9 due to the 8.41% increase in Cardano price from $0.660 to $0.715.
Consequently, a rebound into the $0.665 to $0.684 range is an advantageous time to acquire declines or speculate on long positions, as short covering generates the initial buy pressure.
The fair value gap (FVG) is the optimal take-profit level, which ranges from $0.790 to $0.804.
The bullish breaker’s $0.660 level is 15% away from the FVG’s lower limit.
Therefore, investors may anticipate a 15% increase in value by speculating on the results of this ADA price analysis. ADA may revisit the FVG’s upper limit at $0.804 if the purchasing pressure remains consistent.
Thesis Of Invalidation
A collapse of the breaker’s lower limit at $0.665 will indicate a soft invalidation.
If ADA breaches the swing low of $0.616, which was established on June 5, the bullish thesis will be rendered invalid, thereby perpetuating ADA’s downward trajectory.
In this scenario, the optimal time to bid on this token would be following a sweep of $0.506, during which the price of Cardano reached equal lows.
