Cardano (ADA) Volatility

Cardano (ADA) has faced significant price fluctuations, surging by 72% on Sunday and then correcting 19.29% to $0.8053 within 24 hours.

This volatility has drawn renewed attention to ADA, especially following US President Donald Trump’s announcement to include the altcoin in the US Crypto Strategic Reserve.

Analyst Predicts Bullish Targets for Cardano

Crypto analyst “CryptoELITES” has outlined optimistic price targets for Cardano at $2.50, $3, and $6, with an ultimate goal of $12. A cup-and-handle formation suggests a potential strong uptrend.

> Cardano USDT (ADA): Unstoppable Growth!
> Added to our portfolio at $0.50.
> Currently 120% profit and climbing!
> 🎯 Targets:
> 1️⃣ $2.50
> 2️⃣ $3
> 3️⃣ $6
> Bull market end goal: $12
> Stay focused—this journey is far from over!
> #Cardano #ADA $ADA pic.twitter.com/KnpDnwWeiX
> — @CryptoELITES (@CryptooELITES) March 3, 2025

Tyler Winklevoss, co-founder of Gemini, hinted at a potential listing of Cardano on a centralized exchange (CEX), which could significantly boost ADA’s popularity and price.

Related: Altcoin Narratives Dominate: DeFi, L1s, AI Agents & Memes Fuel Crypto Rally

Cup and Handle Pattern Points to ADA Rally

A breakout from the cup-and-handle pattern aligns with Fibonacci levels. If ADA surpasses the $1.81 resistance (0.786 Fibonacci), it could initiate a rally towards higher targets. The initial resistance is at $1.81 and the next at $3.12 (the 1.0 Fibonacci level).

Success could push ADA to the 1.272 Fibonacci extension at $6.45 and ultimately the 1.414 level at $9.35. The analyst predicts a potential bull run pushing prices towards $12.

Technical Indicators Mixed for Cardano

On the daily chart, the Relative Strength Index (RSI) is at 50.95, indicating neutral momentum. Although there’s a decrease from overbought levels, sustaining an RSI above 50 may support bullish continuation.

The MACD (Moving Average Convergence Divergence) shows a bullish crossover, indicating a potential upward trend. However, weakened momentum might lead to a pullback before resuming an upward trend.

Disclaimer: The information in this article is for informational and educational purposes only. It does not constitute financial advice. Coin Edition is not liable for losses incurred. Readers should exercise caution before proceeding.