Experienced Analyst Says: “This Level Has Triggered Two Major Rallies in Cardano Before”

An analyst known for his technical analysis in the cryptocurrency market stated that the $0.25 level continues to be a critical support point for Cardano. According to the analyst, this level has historically served as the starting point for two major upward movements.

According to the monthly chart shared in the analysis, in January 2023, the ADA price experienced a strong rebound from the $0.25 level, rising by approximately 88.27% in the following weeks. Similarly, in September 2023, following a movement that began with the maintenance of the same support level, the price gained approximately 243% in value.

The analyst noted that Cardano is currently reacting again from the $0.25 support level, arguing that this could be the beginning of a new structural uptrend. If the current support holds, the first target is stated to be $0.36, while the second target in a broader timeframe is $0.53.

On the other hand, the analyst also said that losing the $0.25 support level could signal a deeper trend reversal in the market and pave the way for a sharper correction.

*This is not investment advice.