An analyst highlights that Cardano (ADA) is gearing up for a bullish run in 2025 after a strong recovery in late 2024. Could this lead to a new all-time high?
As Bitcoin’s price breaks above the $95,000 mark, the crypto market reaches a valuation of $3.36 trillion. With the market leader making a bullish comeback, Cardano is also on a recovery track.
After an 8.69% jump in the past 24 hours, ADA has crossed above the $0.90 threshold. Nearing a market cap of $33 billion, the ninth-largest cryptocurrency is preparing for the 2025 bull run.
Analyst Highlights The Best Price to Buy Cardano
In a recent tweet supporting the bullish trend in ADA’s price, Michaël van de Poppe identified a bullish opportunity. While noting that the broader market sentiment remains largely unchanged, he believes it is likely to improve.
After a price jump from $0.326 to a 52-week high of $1.327, ADA’s bull run transitioned into a pullback phase. This pullback, accounting for nearly a 40% drop, is now showing signs of bearish exhaustion.
“I think we are getting towards the end of this correction, and I expect a new leg up for assets like ADA,” he tweeted.
Lower price rejections in Cardano’s price suggest a potential bullish comeback. In his latest analysis, van de Poppe points out that the most optimal entry point for ADA lies near the $0.7460 mark.
However, this is contingent on the market correcting further over a longer period. The recovery is already underway, with critical price levels at $0.9850 and $0.7460.
Michaël Expects a New All-Time High for ADA
Despite a 307% bullish recovery in late 2024—an astronomical rise for Cardano—the ADA price gave an overall return of 42% for 2024.
The previous bullish spike marked the first wave of upward movement for ADA, followed by a correction phase (the second wave). According to Elliott’s Wave Theory, the third and fifth waves typically lead to significant upward movements. Michaël believes such massive moves could bring Cardano to a new all-time high in 2025 or 2026.
Therefore, the current pullback offers long-term traders one of the best entry opportunities. Meanwhile, short-term traders might see the bounce back pushing ADA to $1.2430 resistance before entering a sideways range.
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