Crypto analyst Trend Rider has recently brought attention to Cardano (ADA) holders about the potential for a substantial price rally in the near future. According to his analysis, Cardano could potentially rise to as high as $3 when this rally occurs. Trend Rider mentioned in a social media post that if past patterns repeat themselves, Cardano may be on the verge of its “ultimate support test” before making a parabolic move upwards. He also highlighted the fact that Cardano experienced a similar surge in October 2020, where its price dipped to $0.10 and then skyrocketed to $3. This historical precedent has led Trend Rider to believe that the same could happen again. Additionally, he pointed out that Cardano is currently experiencing a bullish Relative Strength Index (RSI) crossover and retest, which could indicate that it is gearing up for another parabolic move. This RSI crossover has been noted to accurately predict bull and bear markets for ADA.
In an earlier social media post, Trend Rider emphasized the critical nature of Cardano holding its current support level. He stated that ADA’s price is currently at an extremely crucial point, and failing to maintain its support zone could lead to a rapid decline to $0.25. However, if Cardano manages to hold above this support level, Trend Rider believes that it could potentially mark the “exact bottom” before it rises to $1. The analyst further added that Cardano’s future trajectory will be heavily influenced by Bitcoin’s movements. He predicts that if Bitcoin rises above $65,000 after its current dip, altcoins like Cardano could experience a significant surge. On the other hand, if Bitcoin’s price continues to decline, Trend Rider indicates that it could enter a “bear market mode.”
Crypto analyst Alan Santana has provided a glimmer of hope for ADA holders by stating that the cryptocurrency won’t remain in the red forever. Despite Cardano maintaining a bearish outlook for seven consecutive weeks, Santana remains optimistic about its future. He predicts that Cardano will see a “big green” in “the latter part of 2024 and most of 2025.” Santana also suggests that now may be an opportune time to accumulate for those looking to ride the bullish wave. For long-term investors in ADA, Santana highlights the price range of $0.40 to $0.45 as a favorable “buy zone.” This aligns with Santana’s previous prediction of where Cardano could potentially find support. Currently, Cardano is trading at around $0.45, reflecting a minor decrease of almost 2% in the last 24 hours, according to data from CoinMarketCap.
The potential for a significant price rally in Cardano (ADA) is a topic that has garnered attention from analysts like Trend Rider and Alan Santana. Both analysts present different perspectives on the future trajectory of Cardano, with Trend Rider focusing on short-term price movements and historical patterns, while Santana looks towards a more extended bullish wave in the coming years. As investors navigate the volatile cryptocurrency market, it is crucial to conduct thorough research and analysis before making any investment decisions. The future of Cardano remains uncertain, but with careful consideration and strategic planning, investors can position themselves for potential growth in the long term.
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