Cardano

Cryptocurrency

<div class="dailyhodl">
 <p>Cryptocurrency analyst and trader Ali Martinez is saying that Cardano (ADA) is on the cusp of potentially enjoying an explosive run from its current level.</p>
 <p>Martinez tells his 41,000 followers on the social media platform X that Cardano is currently in a consolidation phase on the three-day chart.</p>
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 <p>The crypto analyst and trader says that the current consolidation phase is similar to what ADA experienced in 2020 just before skyrocketing from around $0.10 to an all-time high of slightly over $3 – a gain of over 2,900%.</p>
 <p>According to the crypto analyst and trader, “If history repeats itself, we might see ADA resuming its upward trend around April.”</p>
 <p>On his targets for Cardano, Martinez says that a correction of around 25% possibly awaits the ninth-largest crypto asset by market cap on the way to hitting a new all-time high.</p>
 <p><i>“This pattern continuation could potentially lead to an upswing toward $0.80, a brief correction to $0.60, then $7!”</i></p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GEL1R4PXgAAnSrF?format=jpg&amp;name=small" alt="" width="1063" height="499">
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   Source: Ali Martinez/X
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 <p>Cardano is trading at $0.499 at time of writing, about 1,302% below the target of $7.</p>
 <p>Next up is XRP. Martinez says that he is bearish on the sixth-largest crypto asset by market cap and is anticipating a potential drop of over 30% from the current level.</p>
 <p><i>“XRP is currently grappling to maintain its footing at the crucial $0.55 support level. Should this support fail to hold, be prepared for a possible sell-off scenario that could see XRP descending toward $0.34!”</i></p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GEIIaopXwAAKopv?format=jpg&amp;name=small" alt="" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Ali Martinez/X
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 <p>XRP is trading at $0.551 at time of writing, about 38% above Martinez’s potential downside target of $0.34.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cardano-could-explode-by-over-1-300-if-history-repeats-itself-according-to-trader-but-there-s-a-catch-tbt77169.html">https://thebittimes.com/cardano-could-explode-by-over-1-300-if-history-repeats-itself-according-to-trader-but-there-s-a-catch-tbt77169.html</a></p>

Cardano Could Explode by Over 1,300% if History Repeats Itself, According to Trader – But There’s a Catch

TheBitTimes

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