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Cryptocurrency News Articles
Cardano (ADA) Price Could Rally to $6: Here's Why
Nov 19, 2024 at 03:40 pm
Cardano's (ADA) price trajectory has interested crypto enthusiasts lately. Tweets from Lucid and CryptosRus outline compelling factors driving ADA's rise.
Cardano's (ADA) price has been closely monitored by crypto enthusiasts, and recent tweets from Lucid and CryptosRus highlight key factors driving ADA's rise.
According to a chart analysis by analyst Ali shared by CryptosRus, if ADA mirrors its past performance, it could reach $6 by mid-2025.
Cardano's price has historically undergone cycles of accumulation, breakout, and rally. During its initial accumulation phase, ADA traded between $0.02 and $0.10 for 672 days.
After breaking out of this zone, the token surged by over 4,000%, reaching an all-time high of $3.085. However, a subsequent bearish retracement saw the price fall by 65.93%, stabilizing between $0.25 and $0.50 for 455 days.
Currently, ADA is showing signs of a new recovery phase, which mirrors its previous cycles. Since breaking out of its recent consolidation range, the token has risen by 75.34%, indicating the early stages of a potential rally.
If ADA follows a similar pattern to its last cycle, it could climb by over 2,263%. This move could potentially take it to $6.248 by July-September 2025.
This chart suggests that if $ADA follows a similar pattern to last cycle, we could see $6 ADA by July-September 2025
This could be a conservative prediction considering Cardano may be working closely with @dogecoin soon 👀
Chart: ali_charts pic.twitter.com/gX0R6Byx26
Key resistance levels include $0.68 (ADA has already crossed this level, trading at $0.7604 at press time), $3.085, and the projected $6-$6.25 range. Support remains between $0.25 and $0.50, providing a strong base for upward momentum.
Historical patterns suggest institutional and retail interest, with volume spikes accompanying major breakouts. These trends support the possibility of a structured rally reminiscent of Cardano's previous cycles.
In related news, an elite analyst predicts that XRP's price rally is far from over, setting the stage for "madness."
Strategic Partnerships and Market Visibility
Lucid's tweet highlights Cardano’s unique attributes, such as its decentralized infrastructure, capped supply, and lack of token unlocks, which enhance ADA’s appeal as a hard-capped commodity.
$ADA is about to go Interstellar!
🥇Cardano has a Higher MAV than the entire Top 10 combined
$ADA has Zero token Unlocks scheduled for the Rest of Time
Cardano is the Most Decentralized chain that Never Shuts down
$ADA is a Hard capped Commodity that can’t be Destroyed! 🔱
Additionally, a potential collaboration with Dogecoin (DOGE), as mentioned by CryptosRus, could enhance Cardano's market visibility, attract new investors, and accelerate its price growth.
While the $6 target aligns with historical trends, such partnerships could push the token even further.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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