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Crypto News Flash (EN)

05/12/2024

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Cardano (ADA) Price Projection: Evaluating the Potential for a 1,500% Increase

Cardano (ADA) has been predicted to stage a bullish reversal to a staggering $7.8, representing a 1500% surge from the current price.  Another analyst has also observed that the asset is repeating a...

Cardano (ADA) Price Projection: Evaluating the Potential for a 1,500% Increase
  • Cardano (ADA) has been predicted to stage a bullish reversal to a staggering $7.8, representing a 1500% surge from the current price. 
  • Another analyst has also observed that the asset is repeating a 2019/2020 pattern, positioning it to hit $1. 

Cardano’s native token ADA is currently undergoing a severe bearish phase, declining by 4% in the last 24 hours, 5% in the last seven days, 23% in the last 30 days, and 19% in the last 90 days. With a current price of $0.44 and a market cap of $15 billion, ADA has lost two places on the crypto rankings to sit at the 10th position, behind Dogecoin and Toncoin. However, an analyst observes a bullish formation that could catapult the asset to $7.80 in a 1500% run. 

Explaining his observation, analyst JAVON MARKS claims to have noticed that the asset is mimicking a 2021 pattern where the value recorded a substantial retracement before skyrocketing to its all-time high of $3. Per his expectation, ADA could witness its market cap reaching a staggering $260 billion. Confirming this bullish outlook is another crypto analyst identified as Trend River.

According to him, the current market situation is a reflection of bears “trying their best to push the price down.” However, he expects them to get tired in one or more weeks for the asset to stage a bullish reversal. Interestingly, this coincides with Ali Martinez’s prediction envisioning a parabolic spike to send the price to as high as $10. 

Cardano seems to be mirroring its previous bullish cycle. If this pattern continues, we could witness a brief correction before $ADA goes parabolic toward $10!

Gambardello Foresees Cardano (ADA) Hitting $1 by August

According to prominent Cardano pundit Dan Gambardello, ADA is building momentum to reclaim the $1 zone in a few weeks. A look at its historical data shows that the last time ADA reached $1 was two years ago (April 2022). Interestingly, it came very close to this figure in the first quarter of this year when the price reached a yearly high of $0.807. According to Gambardello, ADA would likely return to breach this point and set a new year-high record in the coming months. Currently, the weekly relative strength index (RSI) of ADA shows an oversold condition, hinting at a bullish outlook. 

Bitcoin Sideways Coming To End! Cardano Path to $1 Mapped Out!

Intro 00:00
Bitcoin weekly almost done consolidating 1:45
One more dip? 4:30
Short term BTC price targets 5:00
Breakout to watch for 6:30
If Bitcoin falls 8:45
Cardano bullish signal 9:45
When will ADA break $1?… pic.twitter.com/xYKt5NzFUW

— Dan Gambardello (@cryptorecruitr) May 10, 2024

On top of that, the asset is converging on the 20-week moving average (MA). From a technical standpoint, bullish momentum is suggested whenever the asset falls above the 20-week MA. Per his observation, ADA’s price approached the 20-week MA the last time it exhibited an oversold RSI signal.

One interesting notice is that the present consolidation mimics the 2019/2020 phase when ADA moved from $0.03 in early 2019 to $0.08 in late 2020. Mapping out that chart pattern to the current chart shows ADA could potentially reach $1 by August 2024. For long-term projection, Telegaon predicts that the asset could hit $45 by 2030. This was comprehensively reported by Crypto News Flash. 


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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

John is a seasoned cryptocurrency and blockchain writer and researcher, boasting an extensive track record of years immersed in the ever-evolving digital frontier. With a profound interest in the dynamic landscape of emerging startups, tokens, and the intricate interplay of demand and supply within the crypto realm, John brings a wealth of knowledge to the table. His academic background is marked by a Bachelor's degree in Geography and Economics, a unique blend that has equipped him with a multifaceted perspective. This diverse educational foundation allows John to dissect the geographical and economic factors influencing the cryptocurrency market, offering insights that go beyond the surface. John's dedication to the crypto and blockchain space is not merely professional but also personal, as he possesses a genuine passion for the technologies that underpin this revolutionary industry. With his astute research skills and commitment to staying at the forefront of industry trends, John is a trusted voice in the world of cryptocurrencies, helping readers navigate the complex and rapidly changing terrain of digital assets and blockchain innovation. John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: [email protected] Phone: +49 160 92211628

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