A crypto trader has backed Cardano’s (ADA) bullish price uptick, which broke multiple resistance levels. The crypto market has faced an extended period of sideways trading with increasing volatility after Bitcoin’s price dropped below $100K. At press time, bearish sentiment maintains its hold on the market, with a 3% drop in the total market capitalization to $2.7 trillion.
Experts Eye Cardano Breakout To $1.35
Rose Premium Signals pointed to a possible Cardano price action above $1.35 in the next market uptick. This is possible if the asset holds the current support and breaks the resistance amid the recent price drop. The projection, which sets three price targets for the coin, ignited ADA bulls. While current charts show a fallen wedge, signs of a breakout flashed amid fluctuations.
According to the experts, the price must break $0.9837 before soaring to $1.1659. After these two levels are breached, the influx of bulls and larger market participants can spur the ADA to new levels not seen in months. Per the X post, the price could hit $1.35 during the rebound.
“#ADA Confirmation Needed – We must break and hold above resistance before a full bullish confirmation!
Falling Wedge Breakout Potential – Reversing from downtrend 
Key Resistance at $0.9837 – Must Break for Confirmation Target 1: $0.9837 Target 2: $1.1619 Target 3: $1.3529.”
The ADA price currently stands at $0.739, down 7% in the past 24 hours. The asset continued downward, with the wider market recording weekly. Last week ADA plunged 4% amid negative macro and industry-related factors. This wiped out huge gains recorded in December after the heightened market institutional appetite fueled by anticipation of Donald Trump’s second term.
Altcoin Season and Whales To Trigger Rebound
ADA bulls hold on to chances of the bull peak, pushing investment to altcoins. The start of the altcoin season is expected to take assets to levels not seen in months. Similarly, recent whale accumulations and reduced exchange reserves have flagged signs of a price recovery.
Recently, a slew of whales have bought the crypto dip, taking up early positions ahead of an expected rally. Altcoin prices remain low as the red wave maintains hold on assets.
