Cardano

The <a href="https://bitcoinist.com/cardano-king-of-dead-coins/">price action of Cardano</a> (ADA) over the past week is a story of two halves, with the token notching a new multi-month high early in the week only to crash by over 18% a few days afterward. This recent decline in ADA price reflects a broader bearish climate in the cryptocurrency market. 
Interestingly, a renowned crypto analyst on the X platform has put forward an exciting projection for the price of Cardano over the coming months. This latest price analysis suggests that this latest price downturn will be short-lived, with a bullish future on the horizon. 
<h2 class="p1" id="analyst-predicts-cardano-price-to-surge-by-670">Analyst Predicts Cardano Price To Surge By 670%</h2> 
Popular crypto analyst <a href="https://x.com/ali_charts/status/1769096425407721629?s=20" target="_blank" rel="noopener nofollow">Ali Martinez took to X</a> to share his latest prognosis on the price of the Cardano token. According to the expert, the cryptocurrency’s current price action seems to be mirroring a pattern from 2018 to 2021. 
<img loading="lazy" decoding="async" class="aligncenter wp-image-287623 size-large" src="https://bitcoinist.com/wp-content/uploads/2024/03/GI0X0dcXgAAw0Pf.jpeg?resize=955%2C660" alt="Cardano" width="955" height="660" srcset="https://bitcoinist.com/wp-content/uploads/2024/03/GI0X0dcXgAAw0Pf.jpeg?w=1200 1200w, https://bitcoinist.com/wp-content/uploads/2024/03/GI0X0dcXgAAw0Pf.jpeg?w=608 608w, https://bitcoinist.com/wp-content/uploads/2024/03/GI0X0dcXgAAw0Pf.jpeg?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/03/GI0X0dcXgAAw0Pf.jpeg?w=955 955w, https://bitcoinist.com/wp-content/uploads/2024/03/GI0X0dcXgAAw0Pf.jpeg?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/03/GI0X0dcXgAAw0Pf.jpeg?w=1140 1140w" sizes="(max-width: 955px) 100vw, 955px" data-recalc-dims="1"> 
From the highlighted weekly chart, the ADA price only recently broke out of a consolidation zone, which looks like a replica of the 2018 – 2020 consolidation range. Having retested the upper boundary of the range, the token looks set for a price upswing. 
However, Martinez expects the Cardano price to move horizontally between $0.55 and $0.80 over the coming weeks. This period of sluggish activity will then be followed by a rapid price upswing to $1.70, according to the analyst. 
In his post, <a href="https://bitcoinist.com/dogecoin-doge-trading-volume/" target="_blank" rel="noopener ">Martinez</a> mentioned the possibility of a period of further price consolidation after the over 160% surge to $1.70. This is expected to “set the stage for a breakout to $5” for the Cardano price 
This audacious projection represents an almost 700% surge for the ADA token from the current price point. From the highlighted chart, these bullish moves are expected to occur over the next few months in 2024. 
<h2 class="p1" id="ada-price-overview">ADA Price Overview</h2> 
As of this writing, the <a href="https://bitcoinist.com/cardano-network-sees-massive-growth-in-new-wallets/" target="_blank" rel="noopener ">Cardano token</a> is valued at $0.6626, reflecting a steep 8.3% decline in the past 24 hours. The altcoin, like the general market, has been experiencing a significant amount of bearish pressure over the past few days. 
This dip comes barely three days after <a href="https://bitcoinist.com/analyst-predicts-cardano-price-to-skyrocket-by-1400/">ADA’s price</a> hit $0.8, its highest level in nearly two years. According to data from CoinGecko, the value of cryptocurrency has dropped by more than 18% since then, with a 12% decline in its weekly timeframe. 
Nevertheless, the Cardano token still ranks as one of the ten largest cryptocurrencies in the sector, with a market capitalization of over $23 billion. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/dv9D1vLp/" alt="Cardano" width="2174" height="1434">

Crypto Analyst Sets $5 Target For Cardano Price – Here’s How

Table of Contents

Bitcoinist

Other articles published on Mar 17, 2024

AVAX prices see weekly gains of 36% – Predictions coming true?

Can Cardano [ADA] rise to $1.70? Take notes, traders

Cuteness Factor Entices Ripple (XRP) & Filecoin (FIL) Holders To Koala Coin (KLC) As Investors En...

Trust, but verify (with better data): overcoming AI’s hallucination problem | Opinion

Bitcoin (BTC) Hits $73K; NuggetRush (NUGX): Challenging Shiba Inu (SHIB) Meme Legacy

Daily Market Review: BTC, ETH, MKR, ZRX, APT

Join our free newsletter for daily crypto updates!