Analyst: Cardano Could Rally ~100% to $0.82 Then $1.39 If Trendline Breaks
Analyst MMB Trader says Cardano (ADA) shows renewed bullish momentum after holding the $0.40 support and recovering above $0.43. ADA is up ~2.4% in 24 hours and posted its first weekly bullish close in five weeks. The analyst noted a rebound from $0.38 and growing volume, suggesting accumulation. His primary target is a retest of the multi-year descending resistance trendline near $0.819 — roughly a 100% rally from the observed entry; at the time of writing that upside measured ~88% after recent gains. If ADA decisively breaks the multi-year resistance, MMB Trader projects a secondary target of $1.390 (about +219% from current levels), slightly above the December 2024 high of $1.32. Other analysts (Arman Shaban, BullStar) also forecast moves above $1.30 following technical breakouts. The piece stresses the $0.40 support as a potential accumulation zone and includes a disclaimer that the views are informational, not financial advice.
Bullish
The article reports that ADA has held a key $0.40 support, rebounded from $0.38 with rising volume, and is showing signs of accumulation—typical technical precursors for a bullish continuation. The analyst’s targets (≈$0.82 then $1.39) hinge on a retest and eventual breakout of a multi-year descending trendline. Breaks of long-term downtrend resistance often trigger strong rallies as stopped-out short positions and fresh momentum buyers enter; historical altcoin behavior shows sizeable moves following similar technical breakouts. Short-term, traders may see elevated volatility and upside as momentum and volume increase; immediate trading strategies could include buying near the $0.40–$0.43 support with tight stops or trading breakouts above the trendline. Longer-term, a confirmed breakout and sustained volume would validate higher targets and could attract broader market interest, pushing ADA toward and possibly above prior highs. Risks include failure to sustain support, false breakouts, and broader market downturns which would invalidate bullish scenarios—hence the recommendation to manage risk and position sizing.