Can The Cardano Price Rebound To $1 As Bull Pennant Appears?

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Financial expert Ali Martinez offers an optimistic perspective on Cardano‘s price, suggesting it may surge back up to $1 if a price spike occurs.

Cardano Price Could Rebound To $1 As Bull Pennant Appears

On his latest post about X, Ali Martinez predicted that the price of Cardano might burst through a bull pennant pattern on smaller timeframes, hinting at a possible spike up to $1. This price point is where ADA has previously adjusted following the broader market sell-off, which started earlier this week.

Previously, it was unveiled that Whales had offloaded more than 70 million coins of their holdings from January 6th to 8th, causing a notable drop in the price of ADA due to heavy selling. Nevertheless, according to Martinez’s latest insights, there might be an imminent bullish trend for Cardano.

According to crypto expert Sebastian, it’s likely we could see an increase soon in the price of Cardano. He pointed out a potential reversal pattern called an inverse head-and-shoulder, which appears to be developing on the one-hour ADA price chart.

The cryptocurrency expert observed that the cost of Bitcoin is rebounding well, and Cardano seems to be mirroring this trend. Furthermore, he predicted that the subsequent rise following this decline will be remarkable, and by next week, this dip will likely be a distant memory.

ADA Holders Are On The Rise

As an analyst, I’ve noticed an intriguing trend in the Cardano market. In a recent post on their platform, Santiment highlighted that the number of ADA holders is on the rise. This upward movement suggests a positive sentiment for the future price of Cardano. The platform indicates that there has been an increase of approximately 2,800 Cardano wallets since the beginning of 2025, equating to a 0.1% growth in holders.

Santiment observes that a swift increase in wallets indicates a strong long-term belief in the project by the community. A current technical assessment of Cardano reveals more positive signs for buyers than sellers, potentially explaining why investors might hold a favorable long-term outlook on the coin.

In the immediate future, it’s clear that the value of ADA and the overall cryptocurrency market could experience a substantial drop due to a potential price correction. This risk seems to have increased after the release of the nonfarm payrolls report, which dampened expectations for a Fed interest rate reduction in the early part of this year.

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2025-01-11 00:37