Cardano's price projection reaches $2.40, mirroring past trends within a well-ordered upward trajectory.
In the world of cryptocurrency, the eyes of traders are currently fixed on Cardano (ADA) as analysts have identified recurring fractal patterns that suggest significant bullish potential for the digital asset.
Over the past year, ADA has been riding within an ascending price channel, bouncing cleanly from the lower boundary each time, as seen since early 2023. This current retest of the key support zone has analysts anticipating a similar breakout, supported by Fibonacci extensions aligning with the channel structure.
The current setup points to a projected price near $2.40, which would mark a 550% rise from the current price of $0.87. This medium-term fractal, resembling a clean ascending channel, has already triggered rallies of 200% and 300% in the past when ADA bounced off the lower trendline.
However, the short-term price action remains dependent on broader market sentiment and the key support level holding around $0.55 to $0.64. If ADA confirms support at the bottom of the channel, the pattern remains intact, and the $2.40 target might not be far off.
Looking beyond the medium term, analysts have also identified a long-term fractal suggesting a potential 2,000% surge by 2035, reaching about $12.45. This projection is based on a 3.618 Fibonacci extension, mirroring Ethereum Classic's 2020–2021 bull run that saw a similar fractal pattern and price explosion. ADA is interpreted as being in the fourth wave of a five-wave Elliott Wave impulsive sequence, with the final wave potentially lifting prices significantly higher over the next decade.
In addition, a shorter-term bullish fractal with potential for a 25% gain has also been identified. This pattern, resembling a falling wedge breakout similar to Sei (SEI) token’s recent price move, implies ADA could rally from around $0.64 toward higher levels within weeks or months.
In summary, multiple fractal technical patterns support bullish forecasts for ADA, with potential price targets ranging from $2.40 (medium term) to above $12 in the long term by 2035. While short-term price action remains dependent on broader market sentiment and key support levels, the recurring fractal patterns indicate that ADA’s price could undergo substantial growth if the technical patterns play out as expected.
Bitcoin's recent surge has sparked discussions among traders about the potential of other cryptocurrencies, with the NSE (National Stock Exchange) noticeably showing increased interest in Cardano (ADA). The technology underlying ADA, similar to Bitcoin, has the capacity to display repeated patterns, leading some analysts to see bullish potential in ADA reminiscent of Bitcoin's own growth.
In the event of a bullish breakout for ADA, as suggested by the current technical patterns, it could potentially follow the path of Sei (SEI) token, demonstrating a falling wedge breakout and effecting a 25% gain within a short time frame.
