Here’s Why Cardano’s Price Might Climb by 140%

Renowned crypto analyst Alan Santana remains optimistic about Cardano (ADA). Sharing his insights on TradingView, he predicts a potential price surge of up to 140% based on his technical analysis.

Bullish Wedge Pattern Signals Potential Breakout

According to Santana, Cardano has formed a bullish wedge pattern, a technical formation where the price trends downward within converging lines. This pattern often indicates an imminent upward breakout. Additionally, ADA has maintained higher lows, signaling that buyers remain active even during corrections. This strengthens the expectation that the price could continue to rise, potentially reaching a new all-time high (ATH).

Key Turning Points in Cardano’s Price

Alan Santana identifies December 20 as a pivotal moment for Cardano. On that day, ADA dropped from a high of $1.30 to a local low of $0.79, marking a 39% correction. Since then, the digital asset has rebounded by 29%, bringing its current price to $0.99. Santana views this recovery as the end of the correction phase and the start of a long-term uptrend.

Whales Show Continued Confidence

Another bullish indicator is the buying behavior of Cardano whales. These wealthy investors see price dips as opportunities to accumulate more tokens. Crypto analyst Ali Martinez recently shared a chart revealing that no less than 10 million ADA were purchased within a 24-hour period.

The behavior of whales often serves as a strong signal of confidence in a price recovery. These investors typically possess deep market knowledge and advanced analytical tools, making their actions a valuable guide for other market participants.