Cardano

April

Rekt (rektarb.xyz)

Rekt

<ul class="wp-block-list">
 <li>Cardano needs to hold $0.72 for continued bullish momentum</li>
 <li>ADA retraces 8% from recent multi-year high</li>
 <li>Analysts project targets ranging from $1.36 to $6</li>
</ul>
<p>Leading cryptocurrency analyst Rekt Capital has <a href="https://x.com/rektcapital/status/1859241355790156133" target="_blank" rel="noopener noreferrer nofollow">identified </a>a crucial price level that <a href="https://thenewscrypto.com/?s=Cardano" target="_blank" rel="noopener noreferrer nofollow">Cardano </a>(ADA) must maintain to continue its bullish trajectory. The analysis comes as <a href="https://thenewscrypto.com/?s=ADA" target="_blank" rel="noopener noreferrer nofollow">ADA </a>consolidates following its recent surge to $0.8466, a level not seen since April 2022.</p>
<h2 class="wp-block-heading" id="h-analyst-shares-key-cardano-support-levels">Analyst shares key Cardano support levels</h2>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a> <br><br>Cardano has rallied significantly since discussed in the previous Altcoin Newsletter<a href="https://twitter.com/hashtag/ADA?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ADA</a> is now on the cusp of a new Macro Uptrend<br><br>Holding above $0.72 (black) would confirm the new uptrend<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> <a href="https://t.co/OLG6vey1Am" rel="noopener noreferrer nofollow">https://t.co/OLG6vey1Am</a> <a href="https://t.co/NR9UzIL6CD" rel="noopener noreferrer nofollow">pic.twitter.com/NR9UzIL6CD</a></p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1859241355790156133?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 20, 2024</a>
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<p>According to Rekt Capital, the $0.72 mark has transformed from resistance into a critical support level. “Cardano needs to establish solid support at this former supply zone to maintain its upward momentum,” the analyst noted.</p>
<p>Despite Bitcoin’s push to a new all-time high of $98,000, Cardano has shown divergent behavior, retracing over 8% from its recent peak. This disconnect from the market leader’s performance has raised questions about ADA’s immediate trajectory.</p>
<p>Technical analysis suggests several potential targets for ADA:</p>
<ul class="wp-block-list">
 <li>Near-term Fibonacci extension at $0.994 (1.272)</li>
 <li>Secondary target at $1.363 (1.618)</li>
 <li>Long-term projection of $6 by analyst Ali Martinez (July-September 2025)</li>
</ul>
<p>“Cardano could replicate its 2020 bull cycle performance,” Martinez stated, dismissing criticism of the asset while maintaining his bullish long-term outlook.</p>
<p>Trading at $0.78, ADA shows marginal daily losses but maintains a 9% buffer above the crucial $0.72 support zone. The sustainability of this position could determine the asset’s next major move as the market watches for confirmation of continued bullish momentum.</p>

Cardano’s Critical Support Level Could Determine Next Major Rally, Says Analyst

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