Cardano Set to Reclaim $1? Here’s Why This Analyst Thinks So

Highly followed market analyst "CobraVanguard" suggests Cardano is ready for a significant bounce. This week, the crypto market has experienced significant turbulence, and Cardano's native token ADA has not been exempt. Amid risk-off sentiment sparked by China's DeepSeek, the asset dropped over 10% from a high of $0.96 to as low as $0.86. However, following the rout, the asset may be set for a significant rebound, at least according to one analyst. Cardano's ADA Set to Bounce to $1? Highly followed market analyst "CobraVanguard" has suggested that Cardano's ADA is ready for a significant bounce. In a recent TradingView idea, the analyst contended that the $0.85 to $0.90 level would likely offer good support to the asset. They based this view on the fact that this level has provided significant support to the asset in the past few weeks, citing data from the four-hour candle chart. As such, CobraVanguard predicted an imminent price bounce with a target around the psychologically important $1 price level.

Indeed, at the time of writing, the asset has already pared some losses to trade near $0.93, with CobraVanguard's analysis suggesting room for a further 7.5% upside at the least. Meanwhile, the asset may be set to get tailwinds in the form of a leveraged exchange-traded fund following recent filings from Tuttle Capital. On Monday, January 27, the firm filed to launch leveraged ETFs for ten crypto assets, including Cardano's ADA. Moreover, veteran trader Peter Brandt has recently suggested that Cardano is ready for "a grand bull market," noting that it appears to have broken out from a multi-year double-bottom formation. In the short term, however, the asset needs to weather several key economic releases this week, including the interest rate decisions of the U.S. and European Area.