Logo
Cardano Ecosystem

Crypto Breaking

11/09/2024

·

66 views


Crypto Analyst Predicts Bullish Move For Cardano Price To Cross $5, Here’s When

Crypto analyst Babenski predicted the Cardano price would enjoy a parabolic rally above $5 and revealed when this could happen. This comes amid ADA’s recent rally, which could mark the beginning of its bull...

Crypto Analyst Predicts Bullish Move For Cardano Price To Cross $5, Here’s When

Crypto analyst Babenski predicted the Cardano price would enjoy a parabolic rally above $5 and revealed when this could happen. This comes amid ADA’s recent rally, which could mark the beginning of its bull run, having underperformed for most of the year. 

When The Cardano Price Could Cross $5

In a TradingView post, Babenski revealed that the Cardano price could cross $5 by 2025 year-end or the start of 2026. As part of his analysis, the analyst also noted that Cardao printed a falling wedge on the weekly chart and had broken out. With this development, he remarked that the main target for this price breakout is around $1. 

Cardano price 1

However, if the Cardano price holds above this $1 target, Babenski is confident that ADA can replicate its 2021 bull run pattern, which could spark the ADA rally to $5 and above. A rally to this price level will mark a new all-time high (ATH) for the Cardano price, whose current ATH is $3. 

The Cardano price has been one of the worst performers since the start of the year, with a 26% year-to-date (YTD) loss. However, there is a growing feeling that the ADA bull run is set to begin. For context, the ADAprice is up over 22% in the last seven days, its largest weekly gains this year. 

ADA whales also look to be bullish on the Cardano price again, as IntoTheBlock data shows a surge in whale activity. The on-chain analytics platform Santiment also revealed that there were recently 697 ADA whale transactions that involved $100,000 transfers and above, close to the highest figure recorded since the Cardano price bottomed on September 4.

Cardano price 2

Meanwhile, 37,892 unique ADA addresses made transfers in a single day, the most since September 4. In line with this, Santiment predicts that ADA might witness some retail FOMO soon enough. 

ADA Entering Its Most Bullish Phase

Crypto analyst Javon Marks also recently provided a bullish outlook for the Cardano price, stating that ADA may be entering its most bullish phase. He noted that ADA is now returning with “major strength,” proving that a price breakout could be imminent. The analyst further provided insights into how high the Cardano price could rise. 

Javon Marks stated that the first breakout target remains a price rally of over 531% to $2.7709. Meanwhile, based on historical trends in the previous bull cycles, he claimed that the Cardano price could enjoy a price rally of over 1,700% and rise to $7.77. His accompanying chart showed that any price rally to $7 will likely occur in 2025. 

At the time of writing, the ADA price is trading at around $0.43, up almost 2% in the last 24 hours, according to data from CoinMarketCap

Source: NewsBTC.com

Crypto Investing Risk Warning

Crypto assets are highly volatile. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest.
This is a high-risk investment, and you should not expect to be protected if something goes wrong.

Read the full disclaimer

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on Crypto Breaking

ORIGINAL SOURCE

https://www.cryptobreaking.com/crypto-an...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from Crypto Breaking

See more
Cardano (ADA) Sets Sights on New Gains: Is a Surge Imminent?
Crypto Breaking
Cardano (ADA) Sets Sights on New Gains: Is a Surge Imminent?

yesterday at 5:08 AM

·

5 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)