While the Altcoin market is experiencing a decline, Cardano (island) has difficulty holding at the level of $ 1 with the latest market corrections. While analysts evaluate the potential of the island to reach $ 15 in the current cycle, the bull momentum still seems weak. The limited recovery in the crypto market creates uncertainty about the direction of the island price.
Can Cardano reach $ 15?
According to some market analysts, Cardano may be on the verge of a major rise. Historical data show that the island has experienced a parabolic rise after a similar accumulation phase in the past. Analysts say that the island constitutes a structure similar to the price movement in 2020. At that time, a harsh rise took place after a long -term consolidation process. If this model is repeated, it may be possible for the Island to see a significant value increase and move towards $ 15.
Market observers closely follow the levels of support and resistance of the island. Technical analysts say that the island has recovered important price zones and creates a formation similar to the structure seen in previous large rally. If it can maintain this structure, a new breaking signal may come for the island.
Factors that can carry the price of subcoin to $ 15
In recent days, some developments that may affect the price of Cardano has come up. In particular, a possible rumors of cooperation between Charles Hoskinson and Elon Musk attracted the attention of island investors.
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
Hoskinson, the founder of Cardano, made a statement stating that February would be a “crazy month”. These words created a great expectation in the island community and increased speculation that an important announcement could come.
Technical Analysis: Critical levels for the island
The island price is currently trading at $ 0.695 and has a decrease of 5.6 %in the last 24 hours. The current support point stands out as $ 0.60 and the resistance level is $ 0.90.
If the sales pressure persists, the island price can re -test the level of $ 0.60. If this support level is broken, the island may decrease to lower levels and sales pressure may increase.
On the other hand, if the island exceeds $ 0.90 resistance, it may be possible to start a rally towards $ 1. The RSI indicator is currently at the level of 36, that is, the market has an impartial appearance.
Expectations for Popular Altcoin
If the rumors about Musk-Hoskinson partnership are confirmed, Cardano’s reliability in the market may increase and attract investor interest. This can be a trigger that can carry the island price much higher than existing levels.
However, in order to achieve its target of $ 15, the island will have great corporate adoption and market conditions will have to be appropriate. If the technical indicators signal the upward breakdown signal, investors may expect the Island to make a strong exit.
