Cardano Price Prediction: A Final Demand Retest Before the Next Parabolic Leg?

Source: CryptoNewsNet Original Title: Cardano Price Prediction: A Final Demand Retest Before the Next Parabolic Leg? Original Link: https://cryptonews.net/news/analytics/32200512/ Cardano could enter a final accumulation phase to retest a multi-year demand zone before its next parabolic expansion to a new all-time high.

Analyst “Crypto4light” shared this Cardano price prediction in his recent analysis. He foresees a little more sideways trend before a massive price upside move.

The commentary follows a brief rebound for ADA. Notably, after reaching a low of $0.34 on Christmas Day, the coin has recovered by 10% to its current market price of $0.37

Cardano Headed for End-Of-Cycle Accumulation

Amid this rebound push, the TradingView analysis from Crypto4light suggested a possible “end of cycle accumulation” price action. For context, Cardano currently trades around a large red demand box, where it consolidated in for much of 2023 before breaking out.

The market watcher foresees similar price action even as the 2024/2025 bull season wraps up, in line with historical cyclical patterns. Remarkably, this demand zone lies between the 0.18 and 0.27 Fibonacci levels at $0.32 and $0.11, respectively.

Furthermore, ADA trends below a descending trendline originating from the 2021 top. The analyst drew the resistance line from the August 2021 closing price of $2.91, which also cuts across multiple price peaks.

It aligned with the December 2024 peak price of $1.32 and the March high of $1.17. It also ended the bullish price actions between August and October before the recent steep decline to the current market level.

Breakout and Possible Target

According to the analyst, Cardano could break out from the descending trendline after a successful retest of the accumulation zone, turning the resistance zone into support. As the zone provided the required momentum for the early and late 2024 price rallies, it could do the same this time, taking the coin to unprecedented heights.

For the targets, Crypto4light used Fibonacci levels that he has worked with since the 2021 top to predict the targets for the next parabolic move after the accumulation.

His first target is a rally to the mid-range around $1.30 and $1.95. Notably, the latter price aligns closely with the 0.50 Fibonacci level, representing a 427% growth from the current market price.

Meanwhile, Cardano could go well above this level. His analysis spotlighted a possible climb to the 1.618 Fibonacci level at $4.55. This surpasses its previous peak price and marks a new all-time high for the ADA. From the current price, the coin would need a 1,129% surge to achieve this target.

Remarkably, the commentary emphasized that this upsurge would not happen if ADA closes below the lower boundary of the demand zone at $0.011. Cardano would further fall by 70% to reach that price low.