Cardano ADA Bulls Eye Targets at $1, $3, and $5 After Reclaiming Key Support

Cardano (ADA) is making a strong recovery after holding an important weekly support level, according to analyst Crypto Patel. He claims that ADA price is entering an accumulation phase.

A long-term support zone was held, the golden pocket remained intact, and ADA recently moved back above $0.235. This area represents a 'bullish order block' or accumulation zone, suggesting it will act as support if ADA stays above it.

The chart also shows two important Fibonacci levels: $0.1278 (0.618) and $0.2351 (0.5). ADA is currently above $0.235, meaning it has moved back above the middle of this range.

Crypto Patel's stated targets are $1, $3, and $5, which would represent a significant gain for the token. A move from the current price to $1 would be roughly a 292% gain, while reaching $3 would require about a 1,077% increase.