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Cryptocurrency News Articles

Cardano (ADA) Might Surge 2,000% and Hit $6 by Q3 2025, Crypto Analyst Ali Martinez Forecasts

Nov 16, 2024 at 07:00 pm

Cardano (ADA) has seen a massive rally in the last few weeks, surging over 81% in the past fourteen days. As the cryptocurrency continues breaking

Cardano (ADA) Might Surge 2,000% and Hit $6 by Q3 2025, Crypto Analyst Ali Martinez Forecasts

Crypto analyst Ali Martinez believes that Cardano (ADA) could hit the $6 mark by September 2025.

The analyst had earlier this year noted that ADA’s chart showed a pattern that resembled 2020, suggesting that the cryptocurrency could experience a rally like 2020-2021’s bull run.

According to the post, ADA broke out from a two-year consolidation in early 2020, retraced 75%, and consolidated for the best part of the year. By November 2020, the token bounced from the accumulation range and began its massive four-month 4,000% rally.

This year, Cardano experienced a similar move during the first leg of the cycle, reaching its year-high of $0.81 before retracing 75% and consolidating in the $0.6 – $0.27 price range for the last eight months.

Following the crypto market’s recent rally, spurred by Trump’s victory in the US elections and the Federal Reserve’s decision to reduce interest rates by 0.25%, Cardano experienced a massive five-day 50% surge.

Martinez had earlier predicted that ADA could begin the second leg's initial jump on November 18, about two weeks after the US elections. However, the cryptocurrency only reclaimed the $0.6 support zone and went on to break above the $0.65 horizontal level earlier today.

This performance marks an eight-month high for Cardano, which has been criticized for underperforming against most altcoins. According to the chart, ADA could trade sideways around this range for the next few days before challenging its year-high price.

If ADA continues mirroring the last cycle's pattern, the cryptocurrency could reach the long-awaited $1 by year-end. It could also surpass its previous $3.09 all-time high (ATH) by Q1 2025 before entering price discovery mode.

According to Martinez, Cardano could rise over 2,000% toward the $6 mark, reaching its top between July and September 2025.

ADA Leads Today’s Top Gainers List

As most cryptocurrencies in the top 100 move sideways, ADA has soared by an impressive 21% in the last 24 hours. The token emerges as the third-best performer today, only behind XRP and ALGO.

Apart from the general economic and geopolitical factors, its recent performance could also be linked to rumors about Cardano’s potential involvement with Trump’s administration.

On Thursday, a member of the World Economic Forum (WEF) and the United Nations (UN), Shawn, shared on X that re-elected President Trump is exploring a federal voting and identity verification system based on blockchain technology.

Another X user went on to claim that Cardano’s founder Charles Hoskinson is “already in talks with the Trump administration,” arguing that “they’ve been working with the state of Wyoming on voting systems for a couple of years now.”

Cardano is up an impressive 84% in the last month, breaking above the $0.65 mark for the first time since late March and reclaiming its top 10 crypto spot. At press time, ADA trades at $0.67.

News source:www.newsbtc.com

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