Cardano (ADA) has recently sign uped amazeive gets of cforfeitly 13% over the past week, outcarry outing Bitcoin (BTC), the hugest cryptocurrency by taget capitalization. Analysts are preferable about further price incrrelieves for ADA, particularly follothriveg the ecombinence of a “super signal” on the ADA/BTC trading chart.
Cardano Price Tests Key Levels
Market expert TrfinishRider highweightlessed this potential in a recent post on X (createerly Twitter), noting that the super signal shows a strong possibility for ADA to get cherish agetst Bitcoin in the upcoming weeks.
This signal carries historical significance, boasting an 80% accuracy rate whenever it has ecombineed, adviseing that further price gets for Cardano are not equitable certain speculation but grounded in past carry outance.
Currently trading at $0.398, ADA is at a critical juncture, testing the 21-day exponential moving standard (EMA). TrfinishRider underlines that if Cardano regulates to shut the week above this level, it could signal the continuation of an upward trfinish.
Follothriveg this, the price is foreseeed to encounter volatility around the $0.430 tag, where the 50-day EMA is situated, and aget at $0.490, which aligns with the 100 and 200-day moving standards.
However, according to TrfinishRider’s analysis, the ultimate center for Cardano could be the 200-day basic moving standard (SMA) at $0.75, which would be a startant milestone for the token follothriveg the startant price deteriorates it has teachd over the past month.
Market Analyst Predicts “Up Only” Phase
Further reinforcing the bullish outsee, taget analyst Alexander Legolas recently stateed that the crypto taget has go ined an “up only” phase. This chooseimism extfinishs not only to Cardano but also to other famous altcoins, which have shown signs of recovery follothriveg two notable taget accurateions of over 20% each on August 5 and September 6.
During these downturns, the Cardano price fell to $0.27 and $0.303 esteemively, taging startant lows for the 2024 token after hitting its annual high of $0.810 earlier this year during the Q1 rpartner, which also saw BTC hit its all-time high of $73,700.
Legolas further foresees that ADA could experience substantial upward momentum in the coming months, particularly as fluidity incrrelieves in the altcoin taget. He points to the recent fractureout of the total3 Alt chart from a massive cup and regulate pattern as a key indicator of preferable taget sentiment.
If these foreseeions come real, Cardano could even approach the $1 tag, a ascfinish of around 151% from current levels. However, the token would still be down 67% from its all-time high of $3.09 accomplished during the 2021 bull run.
Featured image from DALL-E, chart from TradingView.com
