Saad Ullah
Cardano (ADA) finds itself at a critical juncture as traders debate whether ambitious price targets above $4 represent realistic expectations or mere wishful thinking. With the token currently consolidating around key technical levels, market participants are closely watching for signals that could trigger the next significant move in either direction.
ADA Price Analysis: Chart Shows Potential for a Big Move
Cardano has been stuck in consolidation mode for an extended period, creating uncertainty about its next major direction. However, some analysts see opportunity in this sideways action. Crypto trader @Morecryptoonl suggests that ADA's Elliott Wave structure indicates potential for a substantial rally, with the token possibly targeting $4+ if crucial support levels remain intact.
Why $4 ADA Is Still on the Table
Trading around $0.82 on the weekly timeframe, ADA appears trapped within a tightening pattern that could precede a significant breakout. Technical analysis using Fibonacci extensions reveals a roadmap of potential targets: $2.47 as the first major level, followed by $3.10, with the most optimistic projection reaching $4.14.
The bullish scenario depends heavily on ADA maintaining its position above the critical retracement zone between $0.54 and $0.32. As long as price action respects this area, the overall upward bias remains valid. A breakthrough above current triangle resistance could trigger rapid acceleration toward these elevated targets.
Critics often label such ambitious projections as unrealistic "hopium," yet Cardano's track record demonstrates that extended consolidation periods frequently set the stage for explosive price movements. The immediate challenge lies at $0.90 resistance, where a decisive break could spark the next upward phase.
Conversely, failure to maintain support above the key zone would significantly weaken or completely invalidate the bullish narrative. ADA currently sits at a pivotal decision point, with market participants eagerly awaiting confirmation of its next trajectory.
Saad Ullah
