Will Cardano Reach $8 In This Bull Cycle? Market Pundit Reveals ADA Price Trajectory To Expect

Will Cardano Reach $8 In This Bull Cycle? Market Pundit Reveals ADA Price Trajectory To Expect
фото показано с : zycrypto.com

2024-3-14 21:46

Cryptocurrency analyst Ali Martinez recently predicted that Cardano (ADA) could be on the verge of starting a bullish rally to reach $8 in January 2025, driven by the bullish sentiment flooding the market following the approval of spot bitcoin ETFs in the U.S.

Martinez pointed out on Twitter that if history repeats itself, ADA will reach new all-time highs in the coming months. However, he highlighted that in the short term, the price of ADA should test the $0.80 zone, then experience a slight pullback to $0.60 before ultimately entering its bullish rally.

Martinez bases his prediction on ADA’s historical price patterns, indicating that after consolidation periods, ADA has experienced significant price increases followed by corrections before entering sustained bullish trends.

Will ADA reach $8?

While the $8 prediction may seem very ambitious, Cardano’s technical fundamentals and development roadmap could be a good sign to expect new all-time highs by 2025.

With its PoS platform, scalability, and focus on decentralization and interoperability, Cardano has forged a community that sees great potential in ADA. This can be corroborated by the Messari report, which revealed that Cardano had a strong close in the fourth quarter of 2023, with a 66.7% increase in network revenue compared to the previous quarter.

Additionally, average daily transactions and active addresses recorded quarterly growth of 10.9% and 1.5%, respectively.

Hoskinson applauds Cardano’s growth

As recently reported by ZyCrypto, Charles Hoskinson, creator of the Cardano blockchain and its cryptocurrency ADA, expressed his satisfaction this week with the project’s progress following the publication of the Messari report.

Hoskinson emphasized the development advancements within the ecosystem, such as Midnight, Sonor, Hydra, and Milkomeda. He also highlighted metrics like the number of daily transactions, active addresses, and the overall network robustness, viewing them as positive signals of increasing adoption and intensive use of Cardano.

At the time of writing this note, the price of ADA remains at $0.79 while attempting to go past the $0.80 resistance, which it has been testing since yesterday afternoon. Therefore, Martinez’s projection could be on the verge of being realized.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Cardano (ADA) на Currencies.ru

$ 0.9088 (-0.55%)
Объем 24H $1.263b
Изменеия 24h: -1.88 %, 7d: -15.81 %
Cегодня L: $0.8775 - H: $0.9214
Капитализация $31.922b Rank 9
Доступно / Всего 35.126b ADA / 45b ADA

ada price experienced significant consolidation indicating periods

Источник: zycrypto.com

ada price → Результатов: 126


Cardano (ADA) Price Bound for Another Correction Despite Already Immense Fall

To conclude, there are three reasons why the ADA price trend is considered bearish: The breakdown from the $0.350 horizontal area The invalidation of the bullish divergence trendline in the weekly RSI ADA's long-term descending resistance line The post Cardano (ADA) Price Bound for Another Correction Despite Already Immense Fall appeared first on BeInCrypto.

2022-12-29 19:45


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Whales accumulate ADA, but Cardano's rally remains uncertain

Whales have been accumulating ADA, purchasing significant amounts over the past 24 hours. Derivative traders could drive the next phase of ADA’s movement, as bullish sentiment dominated this The post Whales accumulate ADA, but Cardano's rally remains uncertain appeared first on AMBCrypto.