Fun

Crypto Analyst Predicts Bullish Move For Cardano Price To Cross $5, Here’s When

News Feed - 2024-11-10 02:11:00

Este artículo también está disponible en español.


Crypto analyst Babenski predicted the Cardano price would enjoy a parabolic rally above $5 and revealed when this could happen. This comes amid ADA’s recent rally, which could mark the beginning of its bull run, having underperformed for most of the year.  When The Cardano Price Could Cross $5


In a TradingView post, Babenski revealed that the Cardano price could cross $5 by 2025 year-end or the start of 2026. As part of his analysis, the analyst also noted that Cardao printed a falling wedgeon the weekly chart and had broken out. With this development, he remarked that the main target for this price breakout is around $1.  Related Reading Dogecoin Price Forecast: Analyst Says Downside Is Minimized As 1M, 3M, And 6M Candles Turn Bullish 1 day ago Source: TradingView


However, if the Cardano price holds above this $1 target, Babenski is confident that ADA can replicate its 2021 bull runpattern, which could spark the ADA rally to $5 and above. A rally to this price level will mark a new all-time high (ATH) for the Cardano price, whose current ATH is $3. 


The Cardano price has been one of the worst performers since the start of the year, with a 26% year-to-date (YTD) loss. However, there is a growing feeling that the ADA bull run is set to begin. For context, the ADA price is up over 22% in the last seven days, its largest weekly gains this year. 


ADA whalesalso look to be bullish on the Cardano price again, as IntoTheBlock datashows a surge in whale activity. The on-chain analytics platform Santiment also revealed that there were recently 697 ADA whale transactions that involved $100,000 transfers and above, close to the highest figure recorded since the Cardano price bottomed on September 4. Source: Santiment


Meanwhile, 37,892 unique ADA addresses made transfers in a single day, the most since September 4. In line with this, Santiment predicts that ADA might witness some retail FOMO soon enough.  ADA Entering Its Most Bullish Phase


Crypto analyst Javon Marksalso recently provided a bullish outlook for the Cardano price, stating that ADA may be entering its most bullish phase. He noted that ADA is now returning with “major strength,” proving that a price breakout could be imminent. The analyst further provided insights into how high the Cardano price could rise.  Related Reading Large Transaction Volume Crashes 36% In 24 Hours As Dogecoin Price Fails At $0.2, Are Whales Selling? 1 day ago


Javon Marks stated that the first breakout target remains a price rally of over 531% to $2.7709. Meanwhile, based on historical trendsin the previous bull cycles, he claimed that the Cardano price could enjoy a price rally of over 1,700% and rise to $7.77. His accompanying chart showed that any price rally to $7 will likely occur in 2025. 


At the time of writing, the ADA price is trading at around $0.43, up almost 2% in the last 24 hours, according to datafrom CoinMarketCap.  ADA still holding strong | Source: ADAUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com

News Feed

Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships
Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the fina
Former US President Trump no longer anti-Bitcoin, says can ‘live with it’
Prashant Jha13 hours agoFormer US President Trump no longer anti-Bitcoin, says can ‘live with it’Users on X pointed out that Trump’s recent change in tune toward Bitcoin could be just an election-related tactic to
Bitcoin Slides Under $30K, Stablecoins Eclipse Trade Volumes, Crypto Interest Depletes
Bitcoin Slides Under $30K, Stablecoins Eclipse Trade Volumes, Crypto Interest Depletes The price of bitcoin has slid under the $30K zone on Tuesday, dipping to $
Nigeria’s Patricia exchange CEO refutes closure rumors
Amaka Nwaokocha1 hour agoNigeria’s Patricia exchange CEO refutes closure rumorsPatricia came under scrutiny following a hacking incident in May 2023, which led to a significant loss of customer funds.282 Total views1 T
Crypto exchange user goes AWOL after being sent $650K by mistake: Report
Jesse Coghlan4 hours agoCrypto exchange user goes AWOL after being sent $650K by mistake: ReportOTCPro user Kow Seng Chai reportedly hasn’t responded to emails, calls or appeared in court since the exchange mistakenly
Russia’s Finance Ministry Submits Bill to Legalize Crypto Investments, Ban Payments
Russia’s Finance Ministry Submits Bill to Legalize Crypto Investments, Ban Payments Russian Ministry of Finance has prepared and submitteda new bill to expand crypto regulations
Biggest Movers: LTC Hits 9-Day High, While MATIC Snaps Recent Losses
Biggest Movers: LTC Hits 9-Day High, While MATIC Snaps Recent Losses Litecoin surged to a nine-day high to start the month, breaking out of a recent resistance point in the process
Helen Partz37 minutes agoWorldcoin cryptocurrency project suspended in KenyaKenyan authorities want to ensure that Worldcoin poses no risks to the security of citizens before it allows the project to gather iris data.360
After The Bitcoin Crash: Will It Rise Or Drop Again? 5 Key Indicators
Este artículo también está disponible en español. In the aftermath of yesterday’s Bitcoin crash, market participants are closely examining whether the leading cryptocur
JPMorgan Boss Jamie Dimon Says Bitcoin Is Worthless, Questions BTC’s Limited Supply
JPMorgan Boss Jamie Dimon Says Bitcoin Is Worthless, Questions BTC"s Limited Supply The CEO of global investment bank JPMorgan, Jamie Dimon, says bitcoin is “worthless,
Homeland Security leads to man charged over crypto recovery scam
Martin Young4 hours agoHomeland Security leads to man charged over crypto recovery scamAt least 175 people claim they engaged Coin Dispute Network to help them recover funds but never saw a single cent returned.1082 Tota
Bitcoin conference organizer to raise $15M for Trump campaign: Report
Turner Wright5 hours agoBitcoin conference organizer to raise $15M for Trump campaign: ReportThe reported fundraiser will come after the Republican National Convention, in which delegates are expected to nominate Donald