Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Analyst Highlights New Cardano Targets After Retracement, Says Move Can Happen “Very Quickly”

Analyst Highlights New Cardano Targets After Retracement, Says Move Can Happen “Very Quickly”

CryptoNewsNet2025/08/20 15:20
By: thecryptobasic.com
BTC+0.06%ADA0.00%

A decisive move for Cardano could happen very quickly, as a top market analyst highlights possible bearish and bullish targets.

Amid Bitcoin’s recent drop to $113,000, Cardano recorded its second consecutive daily bearish closing yesterday despite temporarily becoming the 8th largest cryptocurrency by market cap. It has now reclined further from its multi-month high of $1.02 on August 14, retracing 16.6% to its current market price of $0.85.

Further Cardano Retracement Possible

Meanwhile, Cardano permabull Dan Gambardello said in his Tuesday analysis that the Cardano price manipulation could persist. He noted that ADA continues to trend below its bull market door, after seeing its bullish momentum curbed by a resistance neckline. According to him, prices could go lower.

Analyst Highlights New Cardano Targets After Retracement, Says Move Can Happen “Very Quickly” image 0
Cardano Retracement TargetsDan Gambardello

Cardano Bullish Move Could Happen Quickly

Nonetheless, the analyst insisted that Cardano could rebound from any of the areas if bulls step in quickly. He noted that finding support in any of the moving averages would set the tone for a higher price move to retest the trendline above $1.03, where it faced rejection last week.

Moreover, conquering this neckline resistance would further set ADA on the path to reaching the bull market door at $1.25 and beyond. If it breaks out of this zone, Gambardello shared that the next target is $2, insisting that this move could happen “very quickly.”

Notably, a rally from the current market price to $1.25 and $2 represents a 47% and 135% growth, respectively.

Much Higher Targets for Cardano

Remarkably, Gambardello had earlier projected higher price targets for Cardano should it rally past the bull market door at $1.25. He asserted that ADA would reach a new all-time high of $10.025 upon breakout, a 1,079% increase from the current price.

However, he also agreed earlier that $7.5 is a more realistic target for this Cardano bull cycle, expected to end in three to six months after Bitcoin’s peak. He leveraged analysis from Zero AI to forecast this target.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

SEC Faces Deadline for Grayscale XRP ETF Decision
TheCryptoUpdates2025/10/18 23:54
Ethereum Bulls Remain Unfazed: Analyzing Market Confidence After $232 Million Liquidation

Ethereum’s price is fluctuating around $3,700, influenced by US credit and labor data, with traders cautiously avoiding high leverage. Whale activity indicates limited bearish sentiment, but there is insufficient confidence in a rapid rebound. No warning signals have been observed in the derivatives market, and a recovery will require clearer macroeconomic signals. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

MarsBit2025/10/18 22:32
BNY Mellon Empowers Crypto Ecosystem with Robust Infrastructure

In Brief BNY Mellon enhances its crypto ecosystem role through infrastructure services, not its own coin. The bank supports stablecoin projects instead of launching an altcoin amid positive market conditions. BNY Mellon prioritizes infrastructure over token issuance, promoting collaboration and ecosystem strength.

Cointurk2025/10/18 21:27
Crypto Surge Revives Investor Optimism

In Brief The crypto market exhibits signs of recovery post-major liquidations. Ethereum, Dogecoin, Cardano, and XRP have shown significant gains. Technological innovations and ETF expectations contribute to market optimism.

Cointurk2025/10/18 21:27

Trending news

More
1
SEC Faces Deadline for Grayscale XRP ETF Decision
2
Ethereum Bulls Remain Unfazed: Analyzing Market Confidence After $232 Million Liquidation

Crypto prices

More
Bitcoin
Bitcoin
BTC
$107,165.41
+0.14%
Ethereum
Ethereum
ETH
$3,890.76
+0.39%
Tether USDt
Tether USDt
USDT
$1
-0.01%
BNB
BNB
BNB
$1,088.79
-0.25%
XRP
XRP
XRP
$2.35
+0.53%
Solana
Solana
SOL
$186.23
+0.63%
USDC
USDC
USDC
$0.9999
-0.00%
TRON
TRON
TRX
$0.3142
+0.56%
Dogecoin
Dogecoin
DOGE
$0.1895
+1.30%
Cardano
Cardano
ADA
$0.6329
+0.03%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter