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Cryptocurrency News Articles

Cardano Price Prediction: Will ADA Hit $6 by 2025?

Nov 16, 2024 at 01:46 am

Crypto analyst Ali Martinez shared a bold prediction for Cardano price on X. He expects the ADA price to surge beyond $6 in the coming year.

Cardano Price Prediction: Will ADA Hit $6 by 2025?

Crypto analyst Ali Martinez has boldly predicted that the price of Cardano (CRYPTO: ADA) will reach $6 by July-September 2025.

What Happened: Martinez’s projection is backed by historical price patterns and technical analysis. In a chart shared on Friday, he pointed out that ADA saw an unprecedented 4,095% surge from its low following the 2021 COVID-19 market crash, reaching $3.085.

Based on similar patterns, Martinez expects the current bull run to propel ADA to $6.248, indicating an 827% increase from current price levels.

The ADA token has shown signs of gaining momentum, with a 53% gain in the last seven days. In the last 24 hours, ADA’s price increased by 21.22%, recovering from a correction to $0.6742 at press time on Friday. The ADA price appears to be forming a bullish continuation pattern, signaling the potential for a breakout.

The ADA price surge is also expected to have been fueled by recent speculation regarding blockchain-based voting in the U.S. Several reports have suggested that Cardano and Hedera Hashgraph (CRYPTO: HBAR) are top candidates to implement a decentralized voting system.

While these rumors are yet to be officially confirmed, both Cardano — known for its decentralized identity and secure infrastructure — and HBAR have seen a surge in investor interest.

Unverified claims linked to Oracle’s ex-board member Shawn and the Department of Government Efficiency (DOGE) also hint at plans for blockchain-based identity verification systems.

Cardano’s founder Charles Hoskinson has expressed a commitment to focusing on crypto policy in Washington, D.C., in 2025. This aligns with the speculation regarding ADA’s potential role in e-voting systems.

See More: Best Cryptocurrency Scanners for Beginners

Cardano Price Today: Technical Analysis

Cardano's price action indicates a potential trend reversal after months of sluggish performance. The token recently broke out above the $0.50 level, suggesting bullish momentum.

Fibonacci retracement analysis highlights possible resistance levels at:

$1.87 (38.2% retracement)

$3.00 (50% retracement)

$3.81 (61.8% retracement)

A measured move from the recent breakout suggests ADA's next target could be $3.10, indicating a 360% increase from its current price. Martinez's chart analysis predicts an extended rally, potentially leading to the $6 price point he outlined for 2025.

News source:www.cryptonewsz.com

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Other articles published on Nov 16, 2024