Cardano Price Prediction: ADA Breaks Key Resistance Level, Target Price $1.90

Bitcoin Breaks $120,000 Igniting Alts Season Expectations

Investing Broz pointed out in the opening analysis that Bitcoin has recently broken through the key level of $120,000, while Bitcoin's dominance has dropped below an important support level, indicating that the altcoin season may be approaching. Analysts stated that this is just another proof of the upcoming altcoin season and observed that the altcoin market has already shown a "crazy surge" trend.

As of July 15, at the time of writing, ADA is priced at $0.7276, with a 24-hour increase of 4.34%.

ADA Breaks Key Resistance Level, Forms Technical Bullish Signal

Among the many outstanding alts, Cardano(ADA) stands out particularly. Analysts have revealed that they have accumulated ADA in the past 24 hours, emphasizing that this action is not merely opportunistic. The trigger point was ADA breaking through a long-term resistance level that it had not surpassed since March 1.

Analysts explained that the descending wedge pattern, which has been in place for several weeks, has now completed its breakout, indicating a trend reversal. Their trading team initially established a long position at $0.54, with a short-term target set at $0.80.

From a short-term target of $1.90 to a year-end price of $2.42

Analysts use traditional breakout target calculation methods, projecting by measuring the height of the pattern, resulting in a price prediction of $1.90. He stated that this target may seem ambitious during the summer period, but it is absolutely achievable and worth close attention.

According to the LuxAlgo indicator system, a green reversal signal has appeared at the weekly level for ADA, accompanied by bullish momentum and positive capital flow. Based on this, analysts provide a more recent price range forecast of $1.00-$1.80. In the longer term, Fibonacci extension levels suggest it could reach a key level of $2.42 by the end of the year.

Important Reminder: Distinguish Between Short-term Trading and Long-term Holding Strategies

Investing Broz specifically clarifies that these predictions are not his long-term targets for ADA throughout the entire bull market cycle. His earlier predictions suggested that ADA could reach 7-10 dollars at the peak of this cycle, a timeframe that may extend to 2026 or even 2027.

Analysts also emphasize the importance of taking profits, pointing out that every bull market will have fluctuations. For short-term traders, the range of $1.80-2.40 might be an ideal position to lock in profits.

Comparison Analysis of Other Potential Alts and ADA

Although ADA is the coin that analysts are focusing on, other altcoins like Ono and HAR have also been mentioned due to similar breakout actions. However, Cardano stands out particularly in the current environment due to the combined effect of technical strength, breakthrough of historical resistance levels, and a surge in trading volume.

Whether ADA can achieve the target of 1.90 USD not only depends on its own momentum but is also closely related to when the long-awaited alts season will fully start.