Top 6th crypto asset by market capitalization, Cardano is known for a diversified trend. The asset is known to diverge from the market trend and move towards the upper target. Therefore, a similar trend has been observed over the past few days as ADA price prepares for a major bull run.
It appears that ADA price is following a key pattern to test lows from the beginning and ignite a rally later. The asset followed a sharp downward trend, falling over 50% to 60% from current levels to hit a downside. Also maintains a brief consolidation and suddenly moves higher to reach a new ATH.
And according to a popular analyst, the price of Cardano (ADA) may see a significant jump and may attain a new ATH in the next 6 months.
Currently, like many other altcoins, the price of ADA is also making a lot of effort to stabilize with a strong uptrend. As the asset has been consolidating within a rapidly declining trend for about a year, a notable flip may be pre-programmed. Nevertheless, the price could cement it within the safe zone after testing and clearing a key resistance at $0.8.
However, after a 10% jump over the past 7 days, ADA bulls are expecting the bearish pressure to ease in the past few hours soon. Once the bullish momentum resumes, Cardano (ADA) price is expected to quickly reach $0.7 and continue rising until it reaches $0.8. Here the path towards $1 could be very clear which could regain its lost hold on the bull market.