Analysts add merit to Cardano Founder Charles Hoskinson’s argument that Midnight will clear major headwinds to bullish Cardano price predictions.
The altcoin has struggled with lapse adoption over the past year: Stablecoin supply remains at 30 million despite the GENIUS act, and its Total Value Locked (TVL) trails newer chains.
Hoskinson attributes Mignight as the solution, citing it to be the “biggest launches in the crypto industry” six years in the making during a recent X Q&A.
The zero-knowledge (ZK) sidechain aims to make Cardano a more scalable and attractive platform for building, contributing to a thriving ecosystem and wider use case for ADA as a utility token.
He claims it has already attracted over 80 deals with many developers who have sidelined Cardano in the past, including Sundae Labs, Maestro, OpenZeppelin, and Fluid Tokens.
Popular X analyst Ali Martinez added technical backing to the optimism, highlighting a critical support retest at $0.51, a level that has repeatedly marked local bottoms over the past year.
If this support once again holds as a launchpad, Martinez expects a retest of key resistance at $1.15, this year’s high, signaling the potential start of a new bull run.
Cardano Price Analysis: $1.15 Could Just be the Start
The historical year-long resistance noted by Martinez contributes to a wider descending triangle pattern, setting much grander targets.
Momentum indicators support a bounce. The RSI has rebounded from the 30 oversold threshold, often a marker of local bottoms, while the MACD levels off in the early stages of a potential trend shift. Buy pressure is building.
Once $1.15 is achieved, a fully realised pattern breakout could see Cardano price upside extend a full 315% to $2.25.
A target that becomes all the more compelling once progress resumes towards spot ADA ETF approvals, clear of the U.S. government shutdown.
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The post Cardano Price Prediction: Big Gains Ahead? Analyst and Hoskinson Agree ADA’s Next Move Could Be Explosive appeared first on Cryptonews.