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02/05/2024

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Cardano (ADA) Could Rally 1500% to $8: Predicts Analyst

Cardano’s (ADA) price has been somewhat stagnant entering 2024. The asset has rallied by 2.4% in the weekly charts but is down by more than 4% over the previous month. However, ADA is still up by over 25%...

Cardano (ADA) Could Rally 1500% to $8: Predicts Analyst

Cardano’s (ADA) price has been somewhat stagnant entering 2024. The asset has rallied by 2.4% in the weekly charts but is down by more than 4% over the previous month. However, ADA is still up by over 25% since January 2023.

Also Read: Cardano: When Will ADA Reclaim Its All-Time High of $3.09?

Source: CoinGecko

Despite the lackluster performance, Cardano’s (ADA) price may witness a rally soon. According to cryptocurrency analyst Ali Charts, ADA mirrors its late-2020 price movements. The analyst anticipates ADA to remain in a consolidation phase till April 2024. However, the asset may set the stage for its next bull rally.

Also Read: Cardano Price Predictions: When Could ADA Reach $3, $7.03, and $10.40?

According to Ali Charts, ADA could hit a high of $8 by January 2025, about a year from now. Hitting $8 from current price levels would translate to a growth of about 1500%. Reaching $8 would also be a new all-time high for ADA.

How high can Cardano (ADA) go in 2024?

Cardano
Source – R7

Crypto analysis firm Changelly does not anticipate ADA’s price to rally much in 2024. According to the platform, the asset may reach a high of $0.55 in February. However, the platform expects ADA’s price to dwindle after peaking in February. Moreover, Changelly does not expect ADA to reclaim its all-time high before April 2028, more than four years from now.

Also Read: Cardano: Can ADA Rally Over 100% and Reach $1 By Q2 2024?

Telegaon, on the other hand, is more bullish on Cardano (ADA). The platform predicts a maximum price of $2.15 in 2024. Reaching $2.15 from current levels would translate to a growth of about 330%. Moreover, Telegaon predicts ADA will reclaim its all-time high sometime next year.

Cardano (ADA) is one of the most developmentally active cryptocurrency projects. Moreover, the asset has a solid foundation, making it a safe bet for future growth. If we enter a bull run later this year, we may see ADA climb to new highs much sooner than anticipated.

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