Cardano price remains under pressure, struggling to hold the $1 support level as market corrections persist. Analysts speculate on ADA’s potential to reach $15 this cycle, though bullish momentum remains weak. The broader crypto market struggles with sustained recoveries, keeping ADA’s price trajectory uncertain despite increasing interest in its long-term prospects. Can Cardano Price Hit $15? Analyst Sees Signs of a Major Breakout Cardano price may be on the verge of a massive rally, according to a market analyst. Historical data suggests that ADA is repeating a past accumulation pattern, which previously led to a sharp upward breakout. The analyst points to ADA’s price movement resembling its 2020 setup, where a consolidation phase preceded a parabolic surge. Cardano could be on track for significant price appreciation if this trend holds, with some projections hinting at a possible move toward $15. Market observers are closely monitoring ADA’s current support and resistance levels. The analyst notes that Cardano has reclaimed key price zones, forming a structure similar to its last major rally. If history repeats, this could be an early signal of a breakout. Events That Could Drive ADA Price to $15 Cardano price could rally as speculation intensifies around a potential collaboration between Charles Hoskinson and Elon Musk. Hoskinson recently hinted that February will be a “crazy month,” sparking excitement within the ADA community. His statement has fueled expectations of a major development that could impact Cardano’s ecosystem and price action. RUMOR: Reports claim Elon Musk and Charles Hoskinson will meet at the end of February to discuss putting the US Treasury on Cardano. pic.twitter.com/vRPpfnvHx9 — TapTools (@TapTools) February 7, 2025 A viral report claims Musk and Hoskinson may meet to discuss putting the U.S. Treasury on Cardano’s blockchain. While no official confirmation has surfaced, the rumor has generated significant attention. If true, such a move could redefine blockchain adoption in financial systems and elevate Cardano’s credibility. A high-profile partnership between Musk and Hoskinson could boost ADA’s market position. Cardano’s blockchain is known for its security and scalability, making it a viable option for large-scale financial infrastructure. If discussions progress, investor confidence could push ADA toward higher price targets. Technical Analysis As of Saturday, the ADA price hovers at $0.6976, reflecting a modest 5% decrease over the past 24 hours. The cryptocurrency navigates a crucial price range, finding support near $0.60 while facing resistance at $0.90. If bearish momentum gains more power, the ADA price could retest this support level $0.6. However, a breakdown below might drive the asset toward lower levels, creating new selling pressure. On the upside, ADA faces significant resistance at $0.90. A breakout above this level could pave the way for a rally toward $1.00. The Relative Strength Index (RSI) stands at 36, indicating neutral conditions. Cardano Price Chart: TradingView If speculation around a Musk-Hoskinson partnership materializes, Cardano’s credibility could surge, fueling institutional interest and market demand. This momentum might drive the Cardano price toward the ambitious $15 target this cycle. The post Can Cardano Price Reach $15 This Cycle? appeared first on CoinGape .
