Cardano

Momentum

Gains

Cardano (ADA), the eighth largest crypto by market cap, has been suffering due to the recent bearish trend. However, ADA supporters can be relieved since an analyst has made a bold prediction for the <a href="https://coingape.com/markets/cardano-price-prediction-as-whale-activity-surges-to-13-billion-will-ada-rebound/" target="_blank" rel="noopener">Cardano</a> price. The crypto analyst expects ADA to surge past $7 in the next bull run. 
<h2 id="when-will-cardano-hit-7">When Will Cardano Hit $7?</h2> 
Ali Martinez, a crypto analyst with over 41K followers on X, expects the ADA price to achieve the $7 target as the crypto’s chart has been mirroring the 2020 trend. After experiencing a crash due to the COVID-19 pandemic, Cardano soared to an all-time high of $3.10 in September 2021. 
Moreover, Martinez found a similar pattern in Cardano’s current consolidation phase. The 2021 bull run propelled Cardano’s price to gain about 3000%. Whilst, Martinez’s prediction suggests a 1,300% increase from the current price of $0.49. 
<figure style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="" src="https://pbs.twimg.com/media/GEL1R4PXgAAnSrF?format=jpg&amp;name=small" alt="Cardano Chart" width="618" height="402">
 <figcaption class="wp-caption-text">
 Source: Ali Charts on X
 </figcaption>
</figure> 
The analyst noted that if history repeats itself, Cardano would witness an upward trajectory around March this year. Furthermore, he explained that this uptrend could lead to a surge to $0.80 followed by a pullback to $0.60. Moreover, he expects the ADA price to top the bull cycle at $7. 
Earlier, on January 10, Martinez spotted a buy signal on the Cardano price chart. He noted that ADA has touched the Fibonacci 0.618 retracement level. He added, “Should this signal hold true, $ADA could break past the $0.55 resistance, potentially paving the way to higher targets at $0.69, and possibly even reaching $0.93.” 
However, the ADA price has failed to breakout from the resistance point due to significant declines lately. Moreover, it extended lower than the $0.50 mark, further distancing from the resistance level. 
Also Read: <a href="https://coingape.com/cardano-ada-gains-momentum-as-next-big-etf-candidate/" target="_blank" rel="noopener">Cardano (ADA) Gains Momentum as Next Big ETF Candidate</a> 
<h2 id="cardano-price-today">Cardano Price Today</h2> 
ADA’s value has plunged by over 4% today, pushing the monthly losses to over 17%, which is huge. In addition, the crypto has tumbled more than 13% in the last seven days, registering new lows. At press time, the <a href="https://coingape.com/price/cardano/" target="_blank" rel="noopener">ADA price</a> was down by 4.11% to $0.4993 on Friday, January, 19. 
Whilst, the ADA market cap declined to $17.7 billion. On the contrary, the trade volume witnessed a phenomenal surge of 53.71% to $433.28 million. Earlier, the crypto soared past the $0.62 mark and attained a fresh 1-month high in the last week of December 2023. 
Also Read: <a href="https://coingape.com/blog/cardano-vs-xrp/" target="_blank" rel="noopener">Cardano vs XRP: Which Coin Is Worth Investing In 2024 ?</a> 
The post <a href="https://coingape.com/top-analyst-predicts-cardano-price-to-climb-7-in-next-bull-run/">Top Analyst Predicts Cardano Price To Climb $7, Here’s Why.</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Top Analyst Predicts Cardano Price To Climb $7, Here’s Why.

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