Cardano Price Eyes Breakout as Stablecoin Adoption Surges
Cardano's price is gaining traction, with traders anticipating a short-term breakout. Stablecoin adoption on the platform has surpassed $40 million, boosting its market cap organically. Technical indicators suggest a potential rally, with the price pressing into a local supply zone between $0.95 and $1.05.
Cardano has formed an inverse head-and-shoulders pattern, with the neckline at $0.90. Breaking above this level could trigger a short-term rally. The weekly structure is gradually turning supportive, with a potential target of $2.50 if the supply zone is cleared. The larger structure shows a massive descending wedge pattern forming on the monthly timeframe, with breakout levels at $1.18-$1.20 pointing towards $4.00 targets. Optimistic price models suggest a possible rise to around 5 US dollars by the end of 2025, while other models show optimistic scenarios reaching up to 6.21 € (~6.5 USD) in 2025 and even higher in later years.
The Cardano community remains bullish, with participants discussing medium- to long-term growth. The price is starting to draw fresh attention after reclaiming $0.82. Breaking the supply zone could flip it into a major accumulation zone for Cardano.
Traders are eyeing a possible short-term breakout for Cardano price, with the platform's stablecoin adoption crossing $40 million. Technical patterns and optimistic price models suggest a potential rally, with targets ranging from $2.50 to $4.00. The Cardano community remains bullish, anticipating medium- to long-term growth.
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