Cardano is now showing signs of activity again, trying its best to break away from the current price slump it’s in. The token is now in the process of forming new price development on its chart, the ones indicative of a potential price hike, once ADA manages to break away from current price patterns to form its own price trajectory. How high is ADA planning to surge? Let’s find out.
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Cardano Plans a New Price Path
ADA is notably one of the most promising cryptocurrency coins to exist in the space. The token is now inching towards a new high, as stated by crypto analyst Dapp Analyst. The expert took to X to share an update, adding how ADA’s chart is showing bullish divergence, a pattern that promotes a healthy price spike in the near future. The expert later added how this sign, when appearing in earlier cycles, had helped Cardano soar to 87% in the process.
If this pattern is appearing on ADA’s chart again, then it could finally help the token ascend to hit new highs per the expert.
“$ADA is currently forming bullish divergence on the daily chart. 📈 The last time ADA did that, it rallied from $0.54 to $1.02, or 87%. The Stoch RSI on the daily and weekly time frames are also bottoming. That is a multi-month move, not some 15-minute chart. 👀 At these prices Cardano ADA is undervalued according to the chart. 📊
New Target in Sight?
According to another notable expert, Erick Crypto, ADA is targeting a new high of $0.93 in due time.
“Cardano ($ADA) is showing a potential breakout setup! Price consolidating near key support ($0.60) with a descending trendline break in sight 👀 Target: $0.93 | Stop: $0.50 If bulls step in, ADA could see strong momentum ahead! 🔥”
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