Cardano (ADA) Soars 20% Weekly, Analysts Eye $10 Target
Cardano (ADA) bucked a broader market downturn by rallying 20% over the past week, trading near $0.92 and up 175% year-on-year. A bullish golden cross on ADA’s daily chart—historically linked to major upswings—has drawn renewed investor interest. Technical patterns show price tightening in a triangle, with a breakout above $0.98 poised to trigger fresh buying, while support holds at $0.89. Market speculation of a cumulative 75-basis-point Fed rate cut by year-end is further fueling risk-on sentiment.
Despite the short-term strength, the lofty $10 target remains a distant prospect. Analysts note ADA must first reclaim $1.10 and clear heavy resistance at $2.90—the cap in the last bull cycle—before a climb toward $4–$5 becomes realistic. Achieving $10 would require a tenfold increase in market capitalization, demanding broad adoption, institutional inflows and ecosystem growth. A more attainable milestone is $2.50–$3.00 by 2025, which analysts agree would mark significant progress for Cardano investors.
Bullish
Cardano’s 20% weekly rally, combined with a confirmed golden cross and triangle breakout setup, signals strong bullish momentum. Historical precedents show ADA’s golden crosses have led to 236% gains. Fed rate-cut expectations further support risk assets. Short-term trading could see a breakout above $0.98 fueling more buying, while reclaiming $1.10 and breaking $2.90 would pave the way for higher targets. Although a $10 price remains long-term and dependent on broad adoption and institutional inflows, current technical and macro factors point to a bullish outlook.