Cardano (ADA) To Rally 900% And Reach $6: Predicts Analyst | cardano | CryptoRank.io (2024)
The cryptocurrency market is in a state of euphoria as the SEC (Securities and Exchange Commission) has approved a spot Bitcoin (BTC) ETF (Exchange Traded Fund). However, instead of BTC leading the market, altcoins have taken charge. Most significant altcoins have rallied double digits, while BTC has surged by under 1%. Cardano (ADA) has also seen a healthy 11.6% growth in the daily charts. However, the asset is still down by 12.2% in the last 14 days.
Also Read: Ripple (XRP) or Cardano (ADA): Which Coin Will Hit $1 in January 2024?
However, renowned cryptocurrency analyst Ali Charts believes ADA could surge to much higher levels.
Cardano (ADA) to hit $6
According to Ali Charts, Cardano (ADA) mirrors its 2018-2020 pattern. The analyst says if this trend continues, ADA may consolidate at current levels until April. However, the development could set the stage for a “potential resumption of the bull run.” The movement would be similar to the 2021 rally, where ADA reached its all-time high of $3.09 on Sept. 9. The asset is currently down by over 81% from its 2021 peak.
Also Read: Cardano (ADA) Price Prediction: Mid-January 2024
Ali Chart also shared a price chart showing that Cardano (ADA) could hit a high of $6 if things go according to plan. Reaching $6 would translate to a growth of about 934% from current levels.
So far, #Cardano price action is echoing its 2018-2020 pattern!
If this trend continues, we might see $ADA consolidating around its current levels until April, setting the stage for a potential resumption of the bull run. pic.twitter.com/bMy8zrxQIp
— Ali (@ali_charts) January 8, 2024
According to Changelly, ADA could reach $6 sometime in June 2030, almost six years from now. The platform anticipates ADA to remain around the $0.5 level for most of the year. However, the platform expects ADA’s price to drop towards the end of 2024.
Analysts at Telegaon are a little more bullish on Cardano (ADA). According to the platform, ADA could hit $6 sometime in 2028, about four years from now.
However, there is also a possibility that the crypto market will enter a bull run later this year, pushing ADA’s price much closer to the $6 target.
These experts analyze various factors, including market trends, technological advancements, and adoption rates, to provide insights into the future potential of Cardano. Cardano Price Predictions 2025: Changelly Prediction: Ranges between $0.86 - $1.05. Coincodex: Predicts a price between $0.42 - $2.41.
According to Changelly, ADA could trade at an average price of $3.69. CoinPedia sees a more bullish scenario, predicting ADA to trade between $9.12 and $10.32. CoinCodex and Coin Edition predict ADA to trade at a potential high of $1.636062 and $3.72, respectively.
Price Range for 2024: $1.37–$2.02 (as for May 22, 2024). The fourth Bitcoin halving has not dramatically changed Coinpedia's previous predictions for Cardano. The ADA exchange rate will grow significantly, with the coin's maximum price reaching $2.02.
Will Cardano reach $100 dollars? For Cardano to reach $100, its market capitalization would need to be around $3.5 trillion (which is $100 multiplied by its circulating supply of 35,045,020,830 ADA). For context, the total market capitalization of all cryptocurrencies combined was $2.5 trillion as of March 21, 2024.
Multiple analysts have forecasted that ADA could surge to $27 in the current market cycle. Notably, some entities expect ADA to reach loftier targets several years from now. In particular, analysts at crypto trading platform Changelly predict that the price of ADA could hit $500 by April 2050, 26 years from now.
On the price front, Chen anticipates that “ADA will most likely fluctuate within the $US1 to $3 range”, however, she adds that a significant breakthrough in technological progress may drive its value back above $US1 for a sustained period. Like any investment, Cardano comes with its set of opportunities and challenges.
In 2025, Cardano (ADA) is expected to range from a low of $0.266 to a high of $1.104. The predicted average price for 2025 is expected to be $0.685, suggesting potential for significant growth for ADA. Condition: the important 50% Fibonacci level of $0.443 is cleared in 2025.
According to our Cardano price prediction, ADA price is expected to have a -0.86% decrease and drop as low as by September 14, 2024. Our analysis of the technical indicators suggests that the current market feeling is Neutral Bearish 38%, with a Fear & Greed Index score of 31 (Fear).
According to the price forecast, ADA could reach a maximum high of $ 2.41 next year in 2025. That's an uptick and return on investment (ROI) of approximately 450% from its current price. The metrics firm has also estimated that Cardano's native token ADA could climb above the $5 mark in 2029.
Telegaon crypto analysts believe that in 2040 Cardano won't rise as high in price: according to their forecasts, it will trade at a minimum of $19.23 (+4,606%), while at its peak it will reach $24.31 (+5,849%).
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