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<ul class="news-points">
 <li>Analysts from the Ben Armstrong YouTube channel predicted that ADA could reach $0.37 in the medium term.</li>
 <li>The S&amp;P 500 index rising could increase the probability of ADA’s price rising, according to the analysts.</li>
 <li>ADA was able to break out of a bearish chart pattern and may now rise to $0.37 as a result.</li>
</ul>
<a href="https://www.youtube.com/watch?v=m7cBX8ntx_s" target="_blank" rel="noopener noreferrer nofollow">Analysts</a> from the cryptocurrency trading and analysis channel Ben Armstrong predicted that Cardano (ADA) could surge 44% in the medium term. In addition to this bullish prediction, the analysts also speculated that the <a href="https://coinedition.com/tag/altcoin-alt-news" rel="noopener noreferrer nofollow">altcoin’s price</a> could reach $5 during the next bull cycle.
In the video, the analysts noted that the S&amp;P 500 index had broken below a positive trend line on its charts. Since then, however, the index has recovered to trade back above the trend line at press time.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" src="https://www.tradingview.com/x/0AtPHug0/" alt="">
 <figcaption class="wp-element-caption">Daily chart for S&amp;P 500 Futures (Source: <a href="https://www.tradingview.com/x/0AtPHug0/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
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Although the S&amp;P 500 and the cryptocurrency market are not strongly correlated, the analysts mentioned that upticks in the traditional stock market increase the probability of prices in the cryptocurrency market rising. As a result, the S&amp;P 500 recovering over the past few days could lead to <a href="https://coinedition.com/cardano-ada-price-prediction/" rel="noopener noreferrer nofollow">ADA’s price</a> entering into a stron…
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/adas-defi-growth-may-be-a-catalyst-for-it-to-reach-5-analysts/">ADA’s DeFi Growth May Be a Catalyst for It to Reach $5: Analysts</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

ADA’s DeFi Growth May Be a Catalyst for It to Reach $5: Analysts

Coin Edition

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