Cardano Hits 5-Month High as Bulls Regain Control: Could $3 Be Closer Than Expected?

[Ben Graham]

Cardano (ADA) has surged past the $1 mark for the first time in months, gaining over 20% in the past 24 hours. The breakout, from $0.8454 to $1.01, signals renewed bullish momentum after a prolonged downtrend.

ADA’s rally comes as traders spot a Golden Cross, when the 50-day moving average crosses above the 200-day, which historically has triggered explosive moves.

In late 2024, this same pattern fueled a 236% rally, taking ADA from $0.39 to $0.93 in just 27 days. Applying similar gains to today’s prices points to a potential $3 target, a projection that has sparked excitement across the crypto community.

Technical Levels Point to Higher Targets for Cardano (ADA)

The immediate challenge for ADA is the $1.17–$1.18 resistance zone, which aligns with previous trendline caps. A decisive close above this range could open the path toward $1.24–$1.43. Analysts also highlight $1.50 and $2.00 as key psychological checkpoints before any $3 attempt.

Momentum indicators are reinforcing the bullish outlook. The RSI has crossed above 50, while the MACD has made a bullish crossover, signals that previously led to rallies exceeding 170%. Historical patterns suggest that even a moderate follow-through could lift ADA toward $2.06 in the coming months.

Support remains firm near $0.84, a level where buyers have consistently stepped in. As long as ADA holds above this zone, analysts expect further upside pressure.

Could $3 Arrive Sooner Than Expected?

Market sentiment is heating up, with some traders calling this ADA’s strongest setup in over a year. Crypto analyst Deezy predicts a $3 move in less than a month if momentum mirrors past Golden Cross rallies. Others, like Crypto Tigers, see potential beyond $3 should breakout volume remain strong.

However, the road upward may not be without turbulence. Overbought conditions could trigger short-term pullbacks, especially around major resistance levels. Still, if Cardano maintains its breakout structure and rides the broader crypto market’s bullish wave, the $3 target may not be as far off as it once seemed.

For now, ADA’s decisive reclaim of $1 marks a psychological victory for the bulls, setting the stage for what could be its most explosive run in recent memory.

Cover image from ChatGPT, ADAUSD chart from Tradingview