- Cardano analysts eye critical levels: Gambardello sees bullish fractal repeating
- Martinez warns ADA must hold ~$0.6347 (Fib 0.5) support to avoid drop to ~$0.53
- Carter notes broadening wedge volatility; breakdown risks $0.59, rebound eyes $1
Cardano (ADA) is drawing analyst attention as it trades near $0.656, struggling below key resistance after multiple rejections from the $0.70–$0.75 zone.
While one analyst sees bullish long-term potential based on historical patterns, others highlight critical near-term support levels that must hold.
Gambardello Sees Bullish Fractal Repeating Last Cycle
Market analyst Dan Gambardello expressed bullishness, suggesting ADA’s current chart pattern mirrors the last cycle before significant gains.
He views Cardano as a “blue-chip contender,” alongside XRP, expecting it to eventually overcome recent challenges and surprise critics.
Related: Cardano (ADA) Price This Weekend: Stuck in a Range, What to Expect
Martinez: $0.6347 Fibonacci Level is ‘Make-or-Break’
Analyst Ali Martinez focused on nearer-term risk, pointing to the 0.5 Fibonacci retracement level around $0.6347 as critical support.
He warned that a daily close below this “make-or-break point” could signal significant weakness, potentially driving ADA down towards the 0.618 Fib level at $0.5331, continuing the bearish trend from the $1.3290 peak.
Carter Notes Broadening Wedge, Volatility Risk
Analyst Jonathan Carter highlighted ADA trading within a broadening wedge pattern since December 2024, a formation often preceding increased volatility.
Carter suggested failure to hold current support levels could lead to a 10% drop, testing $0.59. However, if buyers defend $0.59, he sees potential for a rebound targeting the $1 mark.
Related: Analyst Explains Why Cardano (ADA) Is an ‘Easy Bet’ Right Now
ADA Weekend Outlook Based on Analyst Levels
Cardano traded near $0.6555 at press time, down slightly over 24 hours (-0.91%) and the past week (-4.19%), with $835 million in daily volume. Its market cap stood at $23.56 billion. The immediate challenge is overcoming resistance levels while holding above critical support identified by analysts near $0.6347 and $0.59 to avoid further downside towards $0.53.
The differing analyst perspectives underscore a pivotal moment for ADA heading into the weekend.
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