Cardano

<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p dir="ltr">Renowned crypto analyst Ali Martinez&nbsp;<a href="https://twitter.com/ali_charts/status/1786323545510809613">says</a> a 4,000% rally might be on the horizon for&nbsp;<a href="https://u.today/cardano-25-billion-ada-face-critical-test-at-key-level">Cardano</a> (ADA). The analyst's optimistic forecast follows recent price increases for ADA.</p>
<h2 id="ada-repeating-historical-trend">ADA repeating historical trend</h2>
<p dir="ltr">In an X post, Martinez emphasized that ADA’s current price movement follows historical patterns. The analyst claims that a 50% drop in the price of the cryptocurrency in the past month could be a golden opportunity for ADA, citing observations from historical patterns.</p>
<p dir="ltr">As a reminder, Martinez pointed to 2019, when Cardano consolidated in a parallel channel, marking the conclusion of the bear market. According to the analyst, ADA eventually broke out of the channel after the stagnant period, increasing by 75%. Subsequently, the cryptocurrency experienced a 56% price correction, laying the foundation for an amazing 4,095% bull market.</p>
<blockquote>
 <p lang="en" dir="ltr">Recently, in 2023, something similar happened! <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a> consolidated within a parallel channel, marking an end to the bear market. Following this period of stagnation, <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ADA</a> broke out of the channel with a 72% surge.Now, <a href="https://twitter.com/hashtag/ADA?src=hash&amp;ref_src=twsrc%5Etfw">#ADA</a> has undergone a 50% price correction, setting the… <a href="https://t.co/DiEtM16iJZ">pic.twitter.com/DiEtM16iJZ</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1786323545510809613?ref_src=twsrc%5Etfw">May 3, 2024</a>
</blockquote> 
<p dir="ltr">According to the analyst, this trend resembles ADA’s 2023 price movement. He highlighted that ADA broke out of a parallel channel with a 72% increase and is now undergoing a 50% price correction. Given this trend, the analyst is optimistic that ADA could be on the move toward a 4,000% rally.&nbsp;</p>
<p dir="ltr">While the analyst noted that history does not repeat itself, he says it often aligns. He concluded that ADA’s recent price correction might be one of the last&nbsp;<a href="https://u.today/cardano-25-billion-ada-face-critical-test-at-key-level">buy-the-dip opportunities</a> the cryptocurrency will give investors.</p>
<h2 id="what-s-next-for-ada">What’s next for ADA?</h2>
<p dir="ltr">As of the latest CoinMarketCap data,&nbsp;<a href="https://u.today/cardano-ada-price-may-eye-recovery-as-bullish-signal-emerges">ADA</a> is trading at $0.4627, demonstrating a price increase of 1.86% in the past day.&nbsp;</p>
<p dir="ltr">The market cap also increased by 1.9% to $16.5 billion. However, the trading volume decreased by 26.4% to $333 million, suggesting reduced selling pressure from investors.</p>
<p dir="ltr">The $0.5 mark remains a critical barrier that is both a technical and psychological pivot point. Given its recent performance, surpassing this level could signal a bullish outlook for ADA.</p>

Cardano's (ADA) Mega 4,000% Rally Might Be Ahead, Analyst Teases

Table of Contents

U_Today

Další články publikované 3. 5. 2024

Hong Kong Bitcoin ETFs To Reach $1 Billion AUM By 2024 End, Kraken Unit Predicts

Blockchain Asset Management Unveils $100M Crypto Fund for Accredited Investors

ShibaSwap Network Expansion: Potential Catalyst for Shiba Inu (SHIB) Price Surge Revealed by Team...

Discover Bitgert (BRISE): The Rising Star in the Cryptocurrency Market

Vested crypto tokens worth over $3B to be unlocked in May

Google’s Pixel Tablet Receives the Circle to Search Feature in the Latest Upgrade

Join our free newsletter for daily crypto updates!