The crypto market faces a bearish weekend, and Cardano (ADA) has not been spared after a 3% drop to trade at $0.75. ADA price is also losing its footing after dropping in market cap ranking to the ninth position. Despite the bearish outlook, there are distinct reasons why ADA may recover to the upside and possibly reach higher levels. These include a strong technical outlook and higher odds that the SEC will approve a spot Cardano ETF. ADA Price Gears for a 75% Rally The key reason behind a bullish Cardano price forecast is a bullish technical outlook as it tests resistance at the upper trendline of a descending triangle pattern. ADA has been testing a breakout from this resistance line for the past two weeks. If demand rises and Cardano overcomes resistance at the 50% Fibonacci level of $0.91, it will fuel a 75% run to the $1.32 price…. Read More at Coingape.com
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