Analyst Sets Cardano Price Targets at $1.4, $1.6 and $1.8 as ADA Prints New Buy Signal

A bullish upswing is on the horizon for Cardano after an analyst identifies a buy signal on the asset’s chart, giving its next possible upsurge targets.

Cardano (ADA) saw a nice market uptrend yesterday following a broader market recovery. The asset surged 6%, recovering from an intraday low of $1.1336 to trade above $1.200 following Bitcoin’s short-lived $100,000 reclaim.

Meanwhile, the bullish upswing has printed a new buy signal on the Cardano chart. An analyst has identified his development, presenting levels the long opportunity could take ADA to.

Cardano Prints New Buy Opportunity

In a follow-up TradingView commentary late Friday, analyst Pullbacksignal shares that Cardano has printed a new buy opportunity. His analysis included a fresh chart showing the latest signal and possible ADA targets.

Per the analysis, Cardano has broken a wedge price pattern, providing a second wave of buy signals. Notably, the analyst suggested opening an ADA position earlier, signaling an imminent surge when the price was at $1.0808.

Pullbacksignal speculated that the confirmed breakout from the falling wedge would spur an upsurge to three price targets. First, Cardano will reach his first target at $1.4600, then surge to the second profit-taking level at $1.6100 before ultimately hitting the final price mark around $1.8900.

Notably, the surge to the analyst’s final target from the current price of $1.2030 would see Cardano grow 57%. Meanwhile, the uptrend to $1.8900 would allow it to overtake Dogecoin to become the seventh-largest cryptocurrency by market cap, as analyst Dan Gambardello earlier predicted.

Bullish Triangle Confirms Growing Cardano Momentum

Meanwhile, another analyst confirmed bullish momentum on the Cardano chart. Aksel Rom shared a TradingView analysis yesterday showing that Cardano is currently getting tighter on a forming symmetrical triangle price pattern in the ADA/USDT 30-minute timeframe.

The analyst noted that upon breakout from the triangle, Cardano will target the resistance at $1.3269. Following a successful conquest of the supply zone, the Ethereum killer will surge another 29% to $1.7080.

In the meantime, Cardano trades at $1.2030, up 10% in the past seven days.