The altcoin market is burning with excitement this weekend, and Cardano (ADA) is leading the excitement. The cryptocurrency rose to $0.633, reaching its highest point since June 2022, and is now on track for its eighth consecutive weekly gain. This extraordinary rise attracted the attention of both investors and analysts. Here are the details…
Cardano is at an 18-month high
Cardano (ADA) has reached an impressive price peak of $0.633, according to on-chain data provider Santiment. While this marked an 18-month high, the cryptocurrency experienced a trading volume increase reminiscent of mid-2022. Mass interest in Cardano has intensified, accounting for approximately 4% of all cryptocurrency discussions today, marking its resurgence in the market. Cardano’s rise in popularity is also reflected in its market performance, with a notable increase of 59.14% last week. This increase, the most significant weekly gain since August 2021, positions Cardano as a pioneer in the current cryptocurrency world.
Cardano’s rise, which began in mid-October, shows no signs of slowing down, with six consecutive days of positive performance since Sunday. The recent rally gained momentum, especially on Friday, with Cardano reaching highs of $0.6448 before experiencing a slight pullback. Crypto analyst Ali draws parallels between ADA’s current movement and its course from 2018 to 2020, predicting a potential rally above $0.45. Ali predicts it will climb to $0.75 by the end of December, reflecting the significant volatility observed in late 2020.
What are the expectations for the ADA?
Changelly’s bullish predictions for Cardano (ADA) foresee a minimum gain of $0.9720 and a maximum gain of $1.16 by 2025, with an average of $1.01. The positive trend extends into 2026 and 2027, predicting average prices of $1.41 and $1.93, indicating a steady increase in ADA value. Looking further ahead, 2028 and 2029 are predicted to be breakout years with average prices of $2.80 and $4.19, potentially surpassing all-time highs. Changelly’s long-term confidence culminates in an average price forecast of $6.33 in 2030.
A warning came from the analyst
Meanwhile, crypto analyst Ali Martinez warns in his latest analysis, noting a sell signal for ADA on both the three-day and one-day charts. Martinez predicts a potential corrective move for one to four candles, emphasizing that this could be a short-term pullback as Cardano continues its overall uptrend. As Cardano (ADA) continues to make headlines with its impressive rally, the cryptocurrency market awaits further developments by keeping a close eye on potential corrections and long-term projections that point to a promising future for ADA.
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