- Cardano (ADA) has rebounded to $0.60, with analysts predicting a potential bull run targeting $1.33 based on repeating chart patterns and key order blocks.
- On-chain data shows rising user activity, supporting the bullish outlook with increased daily active addresses and new wallet growth.
Cardano (ADA) is back in the spotlight, with analysts signaling a potential rally toward $1.33 following a strong bounce from recent lows. ADA’s recent price surge, coupled with on-chain activity growth, is fueling fresh optimism among traders and investors.
Cardano Aims Higher After Key Rebound
Over the past week, ADA has been trading in a tight range between $0.54 and $0.60. However, a sharp 8.89% increase in the last 24 hours has lifted Cardano to $0.6045. This price movement comes just after a notable swing low of $0.54 on July 1.
According to TradingView analyst Arman Shaban, this upward move could be the start of another bull run. He identifies repeating chart patterns and market structure cycles that mirror ADA’s December 2024 rally, when the token surged from $0.32 to nearly $1.32.
Historical Patterns Hint at a Breakout
Shaban’s technical analysis focuses on key order blocks and demand zones that have historically signaled major price reversals. A bearish order block formed after Cardano hit $0.79 in March 2024, eventually sending the price down to a low of $0.27 by August. That decline, however, was followed by a strong recovery from the same zone in November.
Currently, ADA appears to be testing that same bearish order block between $0.58 and $0.62 — a move Shaban believes could trigger another powerful breakout. His short-term targets include $0.61 and $0.76, while longer-term projections reach as high as $1.33 — a potential 121% gain from current levels.
On-Chain Data Supports Bullish Outlook
The bullish sentiment is not based on price action alone. On-chain analytics from IntoTheBlock show that Daily Active Addresses (DAA) have jumped by 11.99% in the last week. New addresses are up 4.79%, and zero-balance wallets — often a sign of returning users — have climbed by 12.26%.
This uptick in user activity signals a broader recovery in Cardano’s network utility, reinforcing the bullish technical signals and suggesting rising investor interest.
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