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<p>Cardano (ADA), the popular proof-of-stake blockchain platform, is currently experiencing a significant correction after a six-week green streak. However, technical analysis suggests that this correction may be setting the stage for a major bull run, with ADA potentially reaching $7 or even $8 in 2025.</p>
<h2 class="wp-block-heading" id="long-term-outlook-ada-to-soar-in-2024-2025">Long-Term Outlook: ADA to Soar in 2024-2025</h2>
<p>Alan Santana’s recent technical <a href="https://www.tradingview.com/chart/ADAUSD/UODjYu4K-Cardano-Enters-Long-Term-Buy-Zone-For-2025-Bull-Run/" target="_blank" rel="noopener noreferrer nofollow">analysis</a> predicts that Cardano will surpass $7 in 2025, potentially reaching $8 or higher as the cryptocurrency market transitions into its bull-market phase.</p>
<p>Santana observes that 2023 marked a recovery year with a relief rally, and he anticipates that the current correction will result in a long-term higher low, subsequently leading to a significant bull market.</p>
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<p>The analysis predicts significant growth for Cardano in the latter part of 2024 and most of 2025, with the “big green” anticipated during this period. Despite the current red candles, Santana emphasizes that the six-week green streak is a positive sign, and the correction won’t continue indefinitely.</p>
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<h2 class="wp-block-heading" id="history-repeating-itself-the-october-2020-scenario">History Repeating Itself: The October 2020 Scenario</h2>
<p>Trend Rider, a prominent crypto analyst, has drawn <a href="https://twitter.com/TrendRidersTR/status/1780054558372225236" target="_blank" rel="noopener noreferrer nofollow">attention </a>to a striking similarity between the current ADA price action and the events of October 2020. In October 2020, ADA’s price dipped to $0.10 before embarking on a parabolic move that saw it reach $3.</p>
<p>Trend Rider suggests that if history repeats itself, Cardano might be on the cusp of its ultimate support test before skyrocketing once again. The analyst points out a bullish RSI (Relative Strength Index) crossover and retest as indications that <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="ADA" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">ADA</a> may be gearing up for another parabolic move.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="577" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-1024x577.png" alt="" class="wp-image-475875" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-1024x577.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-300x169.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-767x432.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-1536x865.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-2048x1154.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-266x150.png 266w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-621x350.png 621w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-793-788x443.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-793.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="managing-risk-and-expectations">Managing Risk and Expectations</h2>
<p>As fear levels peak during the testing of major support levels, Trend Rider emphasizes the importance of navigating through this period with caution. The analyst has provided a detailed short-term analysis in their latest tweet, aimed at helping investors manage risk and set realistic expectations.</p>
<h2 class="wp-block-heading" id="the-importance-of-support-levels">The Importance of Support Levels</h2>
<p>Technical analysis relies heavily on support levels, which signify price levels where demand surpasses supply, thereby halting further price declines. When a cryptocurrency tests a major support level and bounces back, it often indicates a strong foundation for future price appreciation.</p>
<p>Cardano’s current correction and testing of support levels may be a necessary step before the next major bull run. As investors closely monitor ADA’s price action, the ability to hold above key support levels will be a critical factor in determining the cryptocurrency’s short-term and long-term trajectory.</p>
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<p>The post <a href="https://captainaltcoin.com/cardano-poised-for-parabolic-move-as-history-repeats-itself-analyst-says-ada-is-in-long-term-buy-zone/" rel="noopener noreferrer nofollow">Cardano Poised for Parabolic Move as History Repeats Itself: Analyst Says ADA Is In Long-Term Buy Zone</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Cardano Poised for Parabolic Move as History Repeats Itself: Analyst Says ADA Is In Long-Term Buy Zone

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