Cardano

Rise

<a href="https://bitcoinist.com/crypto-capital-inflow-2-years/" target="_blank" rel="noopener ">Crypto analyst Ali Martinez</a> has provided a bullish narrative for <a href="https://bitcoinist.com/cardano-starts-2024-with-a-bang/" target="_blank" rel="noopener ">Cardano (ADA)</a> based on a <a href="https://www.newsbtc.com/news/cardano/cardano-future-very-bullish/#:~:text=2024%20Could%20Be%20Another%20Breakout%20Year%20For%20Cardano&amp;text=After%20that%2C%20things%20began%20to,and%20enjoy%20a%20parabolic%20move." target="_blank" rel="noopener nofollow">historical pattern</a>. According to him, the crypto token could hit a new all-time high if this pattern were to continue. 
<h2 id="b-cardano-could-rise-to-as-high-as-7-b">Cardano Could Rise To As High As $7</h2> 
In a <a href="https://x.com/ali_charts/status/1748230309152210990?s=20" target="_blank" rel="noopener nofollow">post</a> on his X (formerly Twitter) platform, <a href="https://bitcoinist.com/crypto-trader-cautions-on-dogecoin-competitor-optimism-and-borroe-finance-attract-expanding-interest/" target="_blank" rel="noopener ">Martinez</a> shared an analysis of how ADA could run to $7. The analyst highlighted the fact that ADA’s current consolidation phase <a href="https://bitcoinist.com/similarities-dogecoin-and-pepe/" target="_blank" rel="noopener ">was mirroring</a> its “late 2020 behavior.” and that the crypto token could hit that price level if history repeats itself. He elaborated on how ADA’s price movement could turn out on its way to $7.&nbsp; 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#Cardano</a>‘s current consolidation phase mirrors its late 2020 behavior. If history repeats itself, we might see <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">$ADA</a> resuming its upward trend around April. This pattern continuation could potentially lead to an upswing toward $0.80, a brief correction to $0.60, then $7! <a href="https://t.co/RuRA2EDMNP" target="_blank" rel="noopener nofollow">pic.twitter.com/RuRA2EDMNP</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1748230309152210990?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">January 19, 2024</a>
</blockquote> 
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-275909" src="https://bitcoinist.com/wp-content/uploads/2024/01/a_936a94.png?resize=572%2C378" alt="" width="572" height="378" data-recalc-dims="1">The crypto analyst predicts that ADA could resume its upward trend around April. This “pattern continuation could then potentially lead to an upswing toward $0.80, a brief correction to $0.60, then $7,” Martinez further claimed. Late 2020, which he referred to, happens to be a historic period for ADA as the crypto token made a recovery of over 2,900%, which ran into 2021.&nbsp; 
Interestingly, the analyst behind the Crypto ZX YouTube channel had <a href="https://www.newsbtc.com/news/cardano/cardano-future-very-bullish/#:~:text=2024%20Could%20Be%20Another%20Breakout%20Year%20For%20Cardano&amp;text=After%20that%2C%20things%20began%20to,and%20enjoy%20a%20parabolic%20move." target="_blank" rel="noopener nofollow">recently alluded</a> to this period while suggesting that 2024 could be another breakout year for ADA. He noted how the crypto token had made such significant gains back then after about two years of consolidation. This happens to be similar to what has happened with ADA so far.&nbsp; 
<a href="https://www.newsbtc.com/analysis/ada/cardano-ada-price-to-11/#:~:text=According%20to%20him%2C%20this%20is,the%20next%20Bitcoin%20Halving%20event." target="_blank" rel="noopener nofollow">Dan Gambardello</a>, the founder of Crypto Capital Venture, also drew similarities with the 2020 pattern when he <a href="https://bitcoinist.com/ada-price-set-to-explode/" target="_blank" rel="noopener ">predicted</a> that ADA was going to explode soon enough. He even suggested that the parabolic move could happen faster this time around as he stated that ADA’s road to the “bull market doors” seems to be faster than in 2020. 
<h2 id="b-taking-a-further-look-at-the-crypto-on-the-charts-b">Taking A Further Look At The Crypto On The Charts</h2> 
<a href="https://www.newsbtc.com/analysis/ada/cardano-ada-price-to-11/" target="_blank" rel="noopener nofollow">Gambardello</a> shared his most recent analysis of ADA in an <a href="https://x.com/cryptorecruitr/status/1748149094395130265?s=20" target="_blank" rel="noopener nofollow">X post</a>. He highlighted an ascending triangle pattern that was still forming on the charts. Speculating on a potential move, he predicts that ADA could rise to $1 on the <a href="https://bitcoinist.com/major-moves-for-cardano-ada/" target="_blank" rel="noopener ">bullish side</a> or drop between $0.33 and $0.33 if it turns out to be a bearish move.&nbsp; 
<blockquote class="twitter-tweet"> 
 CARDANO Critic Says To Sell ADA! (Crypto Holders BEWARE!) 
 Intro 00:00 Cardano critic attacks 00:15 Cardano structure 5:15 Short term ADA targets 7:20 The Cardano chart that matters 9:30 Bullish scenario 12:40 <a href="https://t.co/3BIWTmKYJj" target="_blank" rel="noopener nofollow">pic.twitter.com/3BIWTmKYJj</a> 
 — Dan Gambardello (@cryptorecruitr) <a href="https://twitter.com/cryptorecruitr/status/1748149094395130265?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">January 19, 2024</a>
</blockquote> 
The crypto analyst also drew attention to <a href="https://bitcoinist.com/bitcoin-161800-target-fibonacci-elliott-wave-theory/" target="_blank" rel="noopener ">a structure</a> that he noticed in the four-hour timeframe. Based on the setup, which was playing out on the shorter-term scale, he hinted that the market was currently indecisive as ADA could either drop down to $0.36 or experience an upward move to $0.77.&nbsp; 
Meanwhile, Gambardello looked to urge <a href="https://bitcoinist.com/cardano-sell-all-their-ada/" target="_blank" rel="noopener ">ADA holders</a> not to be too concerned about the crypto token’s current price action as things <a href="https://www.newsbtc.com/bitcoin-news/analyst-expects-bullish-trend-for-bitcoin-ethereum-and-cardano/" target="_blank" rel="noopener nofollow">could turn bullish</a> in a twinkle of an eye. He stated that he wouldn’t still be concerned even if ADA were to drop below its current price level.&nbsp; 
At the time of writing, ADA is trading at around $0.5, up about 2% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noopener nofollow">data</a> from CoinMarketCap.&nbsp; 
Featured image from Shutterstock

Crypto Analyst Predicts 1,300% Move To $7 For Cardano – Here’s The Trigger

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