Cardano (ADA) had a huge jump after Trump mentioned crypto reserves, shooting up over 60% to $1.15. Since then, it’s been a bit of a rollercoaster, settling around $0.81. But could a big rally be on the horizon?
A Bullish Prediction for ADA
Crypto analyst Ali Martinez thinks so. He sees a potential for a massive price increase, but it depends on two things:
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Holding the Line: ADA needs to stay above $0.80. This is crucial support; if it breaks below, things could get shaky.
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Breaking the Barrier: Once above $0.80, ADA needs to break through the resistance at $1.20. This has been a tough hurdle recently.
The Potential Payoff
If ADA manages both of these, Martinez predicts a wild ride. He suggests a potential price target of $10, with a possible high of $16! That’s a massive gain. He bases this on ADA’s history: It often consolidates before making huge moves. Remember the 2020-2021 bull run? A similar pattern could play out.
The Current Situation and Future Outlook
Right now, ADA is trading at around $0.81, slightly down for the day. However, the weekly and monthly gains are still impressive. Some investors are worried, though. The Fear and Greed Index is low, and some predictions suggest a dip to $0.79 in the next few days. But the long-term outlook from some analysts remains positive, with predictions of $0.85 in a month and $1.12 in three months. The key is whether ADA can hold above that $0.80 support.
