Cardano (ADA) has shown resilience in the face of recent market consolidation, signaling that its bullish trend may continue. Following a period of retracement, technical analysis indicates that Cardano’s price remains supported by key levels, positioning the cryptocurrency for potential future gains. Crypto analyst Alan Santana recently highlighted a falling wedge pattern during the price correction, a bullish signal that suggests further upside potential for ADA.
$ADA #ADAUSDT #Cardano | #Altcoins
— Alan Santana (@lamatrades1111) January 10, 2025
✴️ 💰Cardano: Ready To Resume
(Bullish Continuation +Trade-Numbers)
The Cardano chart setup you and I spotted a week ago is ready to resume growing. Most likely.
The falling wedge depicted on the chart represents a correction, a mild one.… pic.twitter.com/C8mOrAdsiI
Although Cardano experienced a brief pullback after reaching resistance, it managed to hold above important support levels, preserving its upward structure. The formation of higher lows during this period reinforces the expectation that the existing bullish trend is more likely to persist than to reverse into a bearish phase.
Key Price Levels to Watch
A critical moment for Cardano occurred on December 20, when the price reached a bottom. Since then, pullbacks have failed to breach these lows, signaling that the path is heading north. Currently, ADA is trading above the key $0.83 level, which is seen as a strong indication of bullish sentiment. As long as the price stays above $0.76, the outlook remains positive for Cardano.
For traders, Santana has identified an entry point between $0.83 and $0.93, with potential profit targets ranging from $1.01 to $2.21. A stop loss is recommended below $0.80 to mitigate potential losses, particularly if the price closes the week under this threshold.
Long-Term Outlook for Cardano
Looking at the broader picture, Cardano’s chart appears strong, with the bullish wedge and higher lows suggesting an accumulation of pressure, pointing toward a potential breakout. While short-term sideways movement may still occur, the long-term trend remains bullish.
Also Read: Cardano (ADA) Eyes 100% Rally: Bullish Wedge Pattern and On-Chain Analysis
At the time of writing, ADA is trading at $0.9563, reflecting a 4.39% gain in the last 24 hours. Given its recent price action and stability, Cardano’s long-term prospects appear promising, with positive trends likely to continue in the coming weeks and months.
