It has been just revealed that the path looks clear for Cardano and the digital asset will see a price explosion soon. Check out the latest reports about this below.
The coast is clear for Cardano to explode in price
Crypto analyst and trader Ali Martinez has shared his bullish sentiment on Cardano (ADA) and one low-cap altcoin. Martinez believes that Cardano has a clear path to move higher, with no significant resistance barriers in sight.
According to Martinez, the key resistance levels that lie ahead for Cardano are $0.80 and $1, and once they are overcome, it will open a window for ADA to shine.
Citing data from blockchain analytics platform IntoTheBlock, Martinez reveals that about 90.76% of Cardano holders who bought the crypto asset at a price range between $0.553 and $0.754 are currently in profit, even at an earlier ADA price of $0.653.
Cardano is trading at $0.645 at time of writing.
According to Martinez, the Worldcoin (WLD) project, which uses iris biometric technology for cryptocurrency transactions, could see a surge in its price soon.
This is because a significant amount of WLD has been transferred out of an exchange, while there has been an increase in large transactions, suggesting that WLD whales (holders of a large amount of WLD) are preparing for a significant price movement.
Currently, Worldcoin is trading at $2.66.
Martinez also notes that Shiba Inu (SHIB), the 18th largest cryptocurrency by market capitalization, has been trading in a bearish pattern for around 15 months, following a descending parallel channel. However, Martinez believes that Shiba Inu is now attempting to break out of this pattern.
“A decisive weekly close above this level [$0.000011] could signal a bullish breakout, propelling SHIB towards $0.000014. However, if it faces rejection here, we might see a pullback to $0.000008 before the bullish breakout.”
Stay tuned for more juicy news from the crypto market.
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