Cardano (ADA) Could Rally 32% to $0.68: Predicts Analyst

The cryptocurrency market seems to be recovering from the recent sell-off. Bitcoin (BTC) has reclaimed the $44k level, rallying 3.6% in 24 hours, while other tokens follow BTC’s suit. Cardano (ADA) is also gaining from BTC’s latest rally. ADA is up 4.2% in the daily charts, 3.9% in the weekly charts, and 8% in the last 14 days. However, the asset is down 4.3% over the previous month. Nonetheless, ADA has maintained some of its gains from 2023 and is up by almost 28% since January last year.

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

Moreover, this might not be the end of ADA’s rally. According to Ali Charts, a prominent crypto analyst, ADA might be gearing up for another rally.

Cardano (ADA) to rally 32% to $0.68

According to a recent X post by Ali Charts, ADA ‘shows signs of a descending triangle on its daily chart.’ The analyst predicts if ADA sustains a daily close above $0.53, it could lead to a 32% rally. The analyst highlights that a new rally could push ADA’s price to $0.68.

However, not everyone agrees with Ali Chart’s prediction. Changelly does not anticipate Cardano (ADA) to hit $0.60 in 2024. The platform anticipates ADA to hit a maximum price of $0.56 in May this year before heading down.

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

Telegaon, on the other hand, is more bullish on ADA. The platform predicts ADA to hit a maximum price of $2.15 in 2024. However, Telegaon does not clarify when ADA may reach this maximum price.

CoinCodex predicts ADA’s price to drop to $0.46 on Feb. 13, 2024. The price fall would translate to a drop of about 9.8% from current levels.