Cardano ADA Price Surges 27%: $5 a Possibility?
The price of the Cardano ADA cryptocurrency is up 27% in the past month, exciting analysts as the altcoin season continues. ADA has reclaimed $0.80 after bouncing from $0.71, forming a bullish higher-low...
The price of the Cardano ADA cryptocurrency is up 27% in the past month, exciting analysts as the altcoin season continues. ADA has reclaimed $0.80 after bouncing from $0.71, forming a bullish higher-low structure. Additionally, its relative strength index (RSI) is positive, indicating positive price momentum. With a positive market sentiment around it, could Cardano ADA explode in price to $5?
In a recent post shared on X, prominent pseudonymous analyst Ali_Charts shared a potential scenario for the 9th-largest cryptocurrency by market cap. The analyst forecasted $1 as a potentially attainable near-term price point for ADA bulls. As shown in his ADA technical chart, which dates back to December 2024, a long-term bullish formation signals a possible price hike to the $1 mark. However, the analyst asserted that this scenario is only attainable if bulls successfully break above the $0.81 resistance level. “If Cardano ADA breaks above the $0.81 resistance, it could set its sights on $1.”
As mentioned previously, for ADA to climb back to $1, whale activity would be a big help to raise the price. Earlier this month, a whale transaction of around 70 million ADA took place on Coinbase. If the latest whale accumulation is just the start and more whales begin swooping up ADA, its value could skyrocket. Additionally, trading volume around the asset is also up 5% in the last 24 hours. If TV rises and whales play their role, a surge for Cardano’s native crypto could be imminent.
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Furthermore, another fundamentally bullish uptrend for ADA comes with ETF developments. According to data from Taptools, the odds of ADA receiving a spot ETF have soared by 45% since the start of the year, signaling a rise in institutional interest in altcoin ETFs. If a Cardano ADA ETF is launched in 2025, it could give Bitcoin-like momentum for the Cardano altcoin, sending its price soaring. Some experts suggest that an ETF launch could send ADA up almost 400%, perhaps reaching $3-$5 in the first few months of the ETF’s arrival.
Per CoinCodex, ADA is currently sitting at $0.73, but doesn’t have nearly as much potential as Ali Martinez projects. According to CoinCodex, 15 years from now, ADA may surge to sit at $1.89, soaring 149% in the process. “According to our current Cardano price prediction, the price of Cardano is predicted to rise by 149.14% and reach $ 1.86849 by December 28, 2040,” The analysts say. “Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 74 (greed). Cardano recorded 14/30 (47%) green days with 7.39% price volatility over the last 30 days. Based on the Cardano forecast, it’s now a good time to buy Cardano.”
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