
Jakarta, Pintu News ā The cryptocurrency market was recently stirred up by an analysis from Ali Martinez, known by the @ali_charts account on X, regarding the potential price increase of Cardano .
In his tweet, Martinez pointed out that Cardano could potentially reach $1.15 and $1.25 in the near future. Currently, Cardano is trading below $1, around $0.90 to be precise, and is showing a steady recovery after bottoming out in mid-summer.
According to Martinez, Cardano has managed to clear some short-term hurdles and now faces long-term resistance near $1.15. This level has been the upper limit several times in previous rallies and price rejections. If Cardano can close the week above this level, it will be a strong bullish signal and pave the way towards the $1.25 to $1.50 zone.
Other analysts also support this view, calling $1.15 a crucial pivot point for further upside. Some chartists also point to price movement targets and Fibonacci extensions that range from $1.15 to $1.78, with a long-term upside scenario that could reach several dollars if broad market momentum and on-chain demand continue to be favorable.
Itās not just technical analysis that is showing positive signals. Recent on-chain data and fund flows on exchanges show increased accumulation by large addresses, which is often a bullish indicator when āwhalesā are buying during consolidation phases. This wave of accumulation has helped push Cardanoās price from the $0.70s range towards its current price band.
However, market indicators are showing mixed signals. Some technical services point to neutral to bullish short-term momentum, while sentiment gauges remain cautious. This means a false breakout is still possible if macro news or Bitcoin weakness triggers massive selling.
In a bullish scenario, if Cardano can hold above the $0.94 to $0.96 zone and trading volumes increase, there is potential to break the $1.15 resistance. A confirmed breakout with follow-through would likely target $1.25 and then the $1.50 to $1.80 band as identified by some technicians.
On the other hand, if Cardano is rejected at $1.15 or fails to defend the $0.94 pivot, there could be a quick retracement towards stronger support levels in the $0.60 to $0.80 range. Rejection from mid-cycle resistance has historically resulted in quick pullbacks, making risk management crucial for traders hoping for a breakout.
Ali Martinezās prediction of Cardanoās next targets at $1.15 and $1.25 has caught the attention of many traders and analysts. With the current price recovery, this theory is being tested.
A clean, volume-backed breakout will validate a bullish path; a quick rejection will remind the market that resistance still holds sway. As always, it is important for traders to balance technical setups with risk control; the crypto market can change rapidly.
Also Read: Bitcoin Price Increase Prediction: Analyst Dave The Wave Reveals Potential Spike in September!
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