Cardano (ADA) Predicted To Hit $4: Here's When
Cardano (ADA) is currently the best-performing cryptocurrency in the daily and weekly charts among the top 10 projects by market cap. ADA’s latest price spike has outshined other major assets like Bitcoin...
Cardano (ADA) is currently the best-performing cryptocurrency in the daily and weekly charts among the top 10 projects by market cap. ADA’s latest price spike has outshined other major assets like Bitcoin (BTC), Solana (SOL), XRP, etc.
ADA is up by 13.1% in the daily charts, 21.8% in the weekly charts, 18% in the 14-day charts, and 72.2% since January 2024. Despite the rally, the asset is down 14.6% over the previous month.
Also Read: Cardano Outshines Bitcoin, Solana: ADA To $1.50 Next?
Why Is Cardano Rallying?
The crypto market faced a substantial correction in December after inflation in the US increased to 2.7%. The Fed, consequently, took a hawkish stance with its monetary policy. The central bank announced only two interest rate cuts instead of three. Market participants may have become weary about investing in risky assets such as ADA and other cryptocurrencies.
ADA’s latest rally could be due to investor bullishness around Donald Trump’s inauguration. Many anticipate the cryptocurrency market will rally after Trump assumes office. Trump’s pro-crypto stance has led to a significant increase in investor sentiment. We may witness an extended bull run over the next four years.
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Will The Asset Hit $4?
https://twitter.com/ali_charts/status/1874904495076848003
According to cryptocurrency analyst Ali Martinez, Cardano (ADA) is forming a pattern similar to its previous cycle. The analyst believes that a big move is near. Ali anticipates ADA to hit $4 over the next few weeks. Hitting $4 from current price levels will translate to a rally of about 280.95%.
CoinCodex analysts also paint a bullish picture for Cardano (ADA). The platform anticipates the asset to consolidate around current levels before breaking out by the end of this month. CoinCodex predicts ADA to hit $2.62 on Mar. 15, 2025. Hitting $2.62 from current price levels will entail a rally of about 149.52%. Despite the bullish outlook, CoinCodex does not anticipate ADA to hit $4 anytime soon.
Also Read: Top 3 Cryptocurrencies To Watch This Weekend
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