Cardano Breakout: Momentum Favors Upside, $3 Is Ambitious but Possible
I see Cardano regaining bullish control after breaking above $1 and printing a Golden Cross, a setup that historically preceded large rallies. The move from $0.845 to $1.01 and bullish RSI/MACD crossovers suggest momentum could extend if volume confirms the breakout.
Key resistance sits at $1.17–$1.18, with further targets at $1.24–$1.43, $1.50, $2.00 and a speculative $3 if momentum mirrors prior Golden Cross runs. Support near $0.84 is critical — holding that level keeps upside scenarios intact, while failure would invalidate the current structure.
I remain optimistic but cautious: the pattern favors upside continuation, yet overbought conditions and resistance clusters mean traders should manage risk and watch for confirmation above the $1.17–$1.18 zone before adding size.
Analysis
Recommendation
Buy on confirmation: consider initiating or adding after a decisive close above $1.17–$1.18, or on controlled pullbacks toward $0.84 with tight risk management; scale out at key resistance bands.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.