Cardano price has crossed the critical $1 level, reflecting growing bullish sentiment in the cryptocurrency market. Starting 2025 with a sharp 20% increase, ADA has achieved its first breakout of the year. This marks the first time since December 18, 2024, that the asset surpassed $1. Analysts now suggest ADA could rally further, with Elliott Wave predictions hinting at a potential move toward $3 in the coming months.
Cardano Price Poised for $3 Rally in Latest Elliott Wave Analysis
Cardano price is gaining attention as it appears to enter the fifth wave of a larger Elliott Wave structure. This analysis, highlighted by EWT’s technical predictions, suggests ADA could be on the verge of substantial price movement, potentially aiming for the $3 mark. The Elliott Wave Theory indicates that the best altcoin is completing wave III, which comprises five smaller impulsive waves.
Wave 5, the final phase of this cycle, seems to be in play, suggesting a bullish extension. If the pattern holds, ADA might surge beyond the key resistance at $2.50, eyeing $3 as its next target. Technical indicators on the chart reinforce this bullish narrative, as wave III’s Fibonacci projection aligns with potential price levels between $2.80 and $3.10.
Whats Next For ADA Price?
The Cardano price has shown impressive momentum since the start of 2025, kicking off the year at a low of $0.83. The cryptocurrency steadily climbed and broke through the crucial resistance level of $0.983, which had capped its progress in late 2024.
This technical breakout has sparked optimism among investors, aligning with broader bullish trends in major cryptocurrencies like Bitcoin, Ethereum, XRP, and Solana.
Today, The top altcoin surged to a high of $1.10 during trading, marking a 2% gain in the past 24 hours and a 20% rise over the week. Currently, the ADA price is at $1.09 and has firmly established itself above the $1 threshold, a significant psychological level.
For ADA to sustain its upward trend, the next key resistance levels to monitor are $1.13 and $1.15. On the downside, immediate support sits near $0.98, with additional buffers at $0.85 and $0.75. If ADA maintains its current momentum, it could pave the way for a strong performance in the first quarter of 2025.
The Cardano price upward momentum and Elliott Wave projections highlight a promising outlook. ADA may reach $3 if bullish patterns hold steady.
Frequently Asked Questions (FAQs)
It predicts ADA could rally to $3 in the coming months.
Key resistances are at $1.13, $1.15, $2.50, and $3.
Immediate support levels are $0.98, $0.85, and $0.75.
Coingape Staff
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/cardano-price-eyes-3-in-latest-elliot-wave-prediction/
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