{"id":674054,"date":"2025-01-11T15:30:55","date_gmt":"2025-01-11T15:30:55","guid":{"rendered":"https:\/\/wncen.com\/?p=674054"},"modified":"2025-01-11T06:07:40","modified_gmt":"2025-01-11T06:07:40","slug":"cardano-price-shows-signs-of-recovery-is-a-return-to-1-inevitable","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-price-shows-signs-of-recovery-is-a-return-to-1-inevitable\/","title":{"rendered":"Cardano Price Shows Signs Of Recovery \u2014 Is A Return To $1 Inevitable?"},"content":{"rendered":"

The altcoin market<\/a> was on a red-hot streak the previous week, with large-cap assets like Cardano, Solana, and Dogecoin posting double-digit profits. However, the past week\u2019s action has been a brutal opposite of the one preceding it, with the Cardano price declining recently by as much as it gained in the previous week.<\/span><\/p>\n

However, the cryptocurrency seems to be recovering nicely, with the ADA price now stabilizing above the $0.9 mark. The question, though, is \u2014 how soon could the Cardano price return above the psychological $1 level?<\/span><\/p>\n

Here’s How ADA Price Could Reclaim $1<\/strong><\/h2>\n

Ali Martinez, a top crypto analyst on the social media platform X, has shared<\/a> an exciting analysis of the price of Cardano in the short term. According to the popular pundit, the altcoin\u2019s value could return to above the $1 mark over the next few days.<\/span><\/p>\n

Related Reading: Bitcoin Price Unravels 157-Day Fractal Similar To Last Cycle, Why A Surge To $169,000 Is Possible<\/a><\/div>\n

The rationale behind this bullish projection is the formation of a bull pennant pattern on the one-hour price chart. A bull pennant is a pattern used in technical analysis marked by a price jump (the flagpole) before a consolidation range with converging trend lines (the pennant), which is followed by a price breakout in the same direction as the initial flagpole.<\/span><\/p>\n

Typically, the bull pennant pattern<\/a> serves as a continuation indicator, signaling the persistence of a price trend (usually the upward trend). The price target from the chart formation is derived by measuring and replicating the length of the initial flagpole at the end of the end of the consolidation range.<\/span><\/p>\n

\"Cardano
Source: Ali_charts\/X<\/figcaption><\/figure>\n

As shown in the chart above, if the price of ADA successfully breaks out of the bull pennant formation, the altcoin could visit above the $1 mark again. This represents an impressive 10% surge from the current price point.<\/span><\/p>\n

Crossing above the $1 mark again might be the spark that the Cardano token needs to conjure a rally that would see it return to its all-time high price. As revealed<\/a> in a recent article, recent historical patterns point to a potential rally to a new record-high price for the altcoin.<\/span><\/p>\n

Cardano Price At A Glance<\/b><\/h2>\n

As of this writing, the price of ADA stands at around $0.9266, reflecting an almost 2% increase in the past day. However, this positive single-day performance did little to relieve the bleeding the altcoin has suffered in the past week. According to data from CoinGecko, the Cardano price is down by over 15% in the last seven days.<\/span><\/p>\n

Related Reading: SUI Defies Odds With A Sharp Rebound Above $4.9: New Highs Loom?<\/a><\/div>\n
\"Cardano
The price of ADA on the daily timeframe | Source: ADAUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

The altcoin market was on a red-hot streak the previous week, with large-cap assets like Cardano, Solana, and Dogecoin posting double-digit profits. However, the past week\u2019s action has been a brutal opposite of the one preceding it, with the Cardano price declining recently by as much as it gained in the previous week. However, the cryptocurrency seems to be recovering nicely, with the ADA price now stabilizing above the $0.9 mark. The question, though, is \u2014 how soon could the Cardano price return above the psychological $1 level? Here’s How ADA Price Could Reclaim $1 Ali Martinez, a top crypto analyst on the social media platform X, has shared an exciting analysis of the price of Cardano in the short term. According to the popular pundit, the altcoin\u2019s value could return to above the $1 mark over the next few days. Related Reading: Bitcoin Price Unravels 157-Day Fractal Similar To Last Cycle, Why A Surge To $169,000 Is Possible The rationale behind this bullish projection is the formation of a bull pennant pattern on the one-hour price chart. A bull pennant is a pattern used in technical analysis marked by a price jump (the flagpole) before a consolidation range with converging trend lines (the pennant), which is followed by a price breakout in the same direction as the initial flagpole. Typically, the bull pennant pattern serves as a continuation indicator, signaling the persistence of a price trend (usually the upward trend). The price target from the chart formation is derived by measuring and replicating the length of the initial flagpole at the end of the end of the consolidation range. As shown in the chart above, if the price of ADA successfully breaks out of the bull pennant formation, the altcoin could visit above the $1 mark again. This represents an impressive 10% surge from the current price point. Crossing above the $1 mark again might be the spark that the Cardano token needs to conjure a rally that would see it return to its all-time high price. As revealed in a recent article, recent historical patterns point to a potential rally to a new record-high price for the altcoin. Cardano Price At A Glance As of this writing, the price of ADA stands at around $0.9266, reflecting an almost 2% increase in the past day. However, this positive single-day performance did little to relieve the bleeding the altcoin has suffered in the past week. According to data from CoinGecko, the Cardano price is down by over 15% in the last seven days. Related Reading: SUI Defies Odds With A Sharp Rebound Above $4.9: New Highs Loom? Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":674061,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,79508,87818,12332,12329],"class_list":["post-674054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-adausdt","tag-ali-martinez","tag-cardano","tag-cardano-price"],"acf":[],"yoast_head":"\nCardano Price Shows Signs Of Recovery \u2014 Is A Return To $1 Inevitable?<\/title>\n<meta name=\"description\" content=\"The altcoin market was on a good run the previous week, with large-cap assets like Cardano posting double-digit profit. 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Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. 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