Cardano (ADA) Forecasted to Rally 6000%, Hit $33: Here's When
Although Cardano (ADA) struggled early in the year, the asset’s price has begun to gain momentum in the last few weeks. The token has surged by over 130%, almost as lucrative as Bitcoin’s (BTC) growth in the...
Although Cardano (ADA) struggled early in the year, the asset’s price has begun to gain momentum in the last few weeks. The token has surged by over 130%, almost as lucrative as Bitcoin’s (BTC) growth in the same time frame. Moreover, ADA is up 32.3% in the weekly charts and over 50% over the previous month. Also, the token has surged by 88% since last December.
Also Read: Cardano (ADA) Price Prediction: Mid-December 2023
One interesting point is that Cardano’s (ADA) latest surge comes amid an exodus of small wallets with 1 to 10 ADA. According to crypto analysis firm Santiment, the drop in small addresses may have fueled the latest price spike. The firm notes that a decrease in “addresses this size or smaller often indicates capitulation and a potential price turning point.“
However, ADA’s price surge might not be over just yet. According to an analyst, ADA might witness another massive rally.
Cardano (ADA) predicted to surge 6000%
According to crypto analyst Tyler Strejilevich, ADA could be in for a bullish turn. The analyst notes that the token is about to “get a bullish weekly cross for the first time since JUNE 2020.” According to Strejilevich, the last time this happened, ADA surged by “6,000% over the next 66 weeks.”
Also Read: Cardano ADA Forecasted to Reach $2: Here’s When
Going by Strejilevich’s estimates, Cardano (ADA) could surge to $33 in the next 16 months or so. Hence, might see a new all-time high for ADA by 2024 or 2025.
However, Changelly does not anticipate such a bullish outlook for ADA in 2024. The platform predicts that ADA might reach a price of around $1.48 by the end of 2025. However, if we enter a bull market in 2024, as many have predicted, we may see ADA surge to new highs before Changelly’s anticipated dates.
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