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

Boluwatife Adeyemi
January 11, 2025
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Can The Cardano Price Rebound To $1 As Bull Pennant Appears?

Highlights

  • Crypto analyst Ali Martinez has predicted that the Cardano price could rebound to $1 if it breaks out from a bull pennant.
  • Crypto analyst Sebastain has also suggested that a price rebound is imminent.
  • ADA holders have increased since the start of the year, providing a bullish outlook for the Cardano price.

Crypto analyst Ali Martinez has provided a bullish outlook for the Cardano price. The analyst predicted that ADA could rebound to $1 following a potential price breakout.

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Cardano Price Could Rebound To $1 As Bull Pennant Appears

In an X post, Ali Martinez stated that the Cardano price could break out from a bull pennant on lower time frames, signaling a potential surge to $1. This is a price level that ADA corrected from the marketwide sell-off, which began earlier this week.

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The analyst had previously revealed how Whales sold over 70 million coins between January 6 and 8, which put significant selling pressure on the ADA price. However, based on Martinez’s recent analysis, Cardano could soon witness a bullish reversal.

Crypto analyst Sebastian also predicted that a rebound may be imminent for the Cardano price. The analyst revealed a possible inverse head-and-shoulder that was forming on the hourly ADA chart.

The crypto analyst also noted that the Bitcoin price is bouncing nicely, and ADA is following. He added that the pump after this dip would be epic and that the dip would be forgotten in a week from now.

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ADA Holders Are On The Rise

In an X post, on-chain analytics platform Santiment revealed that ADA holders are on the rise, which provides a bullish outlook for the Cardano price. According to the platform, the number of Cardano wallets has increased by 2,800. This represents a 0.1% increase in holders since the start of 2025.

Santiment noted that if wallets are rising fast, the community is confident in the project for the long term. A recent ADA technical analysis showed that the Cardano price boasts more bullish than bearish indicators, which explains why investors could be bullish on the coin for the long term.

However, in the short term, ADA and the broader crypto market are undoubtedly still at risk of a significant price correction, especially following the release of the nonfarm payrolls report, which reduced optimism of a Fed rate cut in the first half of this year.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.