Cardano (ADA) has a promising future, according to popular crypto analyst Alan Santana. In a detailed post on TradingView, Santana explained that the recent chart configuration of Cardano suggests a modest correction rather than a bearish trend. Although ADA experienced a gain following the correction, it retraced after reaching its first resistance level. However, Santana noted that ADA maintained a firm higher low, indicating a higher likelihood of optimistic continuation instead of a bearish reversal.
Santana identified December 20 as a pivotal moment for Cardano, viewing it as a significant reversal that potentially marked the end of the corrections. Despite a retrace since then, ADA has not reached the December low, which reflects a bullish sentiment. Santana clarified that from a technical standpoint, ADA remains positive above $0.76, with notable strength above $0.83. He expects further upward movement in the coming days and weeks, with a potential rise of up to 140% under favorable conditions.
However, Santana cautioned that market conditions are still volatile. If weekly support levels fail, lower prices could follow. On the other hand, support breakdowns on the hourly or daily charts are less concerning as recoveries tend to happen quickly in these shorter timeframes.
Currently, ADA is trading at around $0.9203, reflecting a 3.49% drop in the last 24 hours and a 13.54% drop in the last 7 days. Santana’s analysis suggests that these losses are related to a search for liquidity, which could position the asset for a strong comeback.
In addition, Cardano’s ecosystem is expanding through strategic alliances. Notably, Cardano and FC Barcelona have partnered to integrate blockchain technology into community involvement projects. Through Cardano’s Andamio and NMKR systems, the partnership aims to revolutionize fan interaction with their favorite teams, creating innovative fan experiences.