Trader CryptoELlTES has predicted a significant rise in Cardano (ADA) price based on technical analysis.
Technical Analysis and Predictions
Veteran trader CryptoELlTES posted on X about a potential 12x increase in Cardano’s price. They shared a chart illustrating the formation of a classic 'cup and handle' pattern, which typically forecasts a price breakout.
Cardano Key Price Zones
The chart identifies major support and resistance levels using Fibonacci tools. Support is seen at $0.23552, with notable resistance at $1.17588 and $1.82054. The forecasted price zones suggest significant growth.
Market and Risk Considerations for Cardano
The analysis shows Cardano's current price at $0.70649. Maintaining critical support levels is essential for the forecasted 12x growth. The impact of external factors like market conditions and Bitcoin price movements remains significant.
While predictions are based on historical data and technical models, they remain speculative. Traders and analysts continue to closely monitor the Cardano market.
