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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