The post Cardano price patterns mirrors 2020 rally, eyes $6 surge as whale accumulation soars appeared on BitcoinEthereumNews.com.

Cardano’s price is currently following similar patterns as its 2020 bullish rally, hinting at a potential spike to $6. Moreover, Cardano’s whale token accumulation is on the rise, jumping by over 47% in more than two years. Cardano holders have already augmented their holdings to over 2.94 billion ADA. Analyst Ali Martinez projects Cardano could reach $6 as early as September 2025 According to Ali Martinez, an on-chain crypto analyst, Cardano’s current price trajectory looks increasingly similar to its 2020 price formation, signaling an impressive price surge for the token. The analyst pointed to the time when Cardano’s price began to rise on November 16, 2020, until August 2021, when it reached an all-time high of $3. In one of his posts, he remarked: I believe Cardano (ADA) is following a similar pattern to 2020. If history repeats, we might see a pump around November 18—about two weeks after the US elections—and a potential market top by September 2025. ~Ali Martinez He said all this while presenting a graph of his predictions.  Source: TradingView The graph indicated that ADA could soon hit $6 by September 1, 2025, rising by over 1600% in less than a year. The forthcoming US elections would play a huge role in propelling the tokens’ prices, especially if a crypto-friendly candidate is elected. Some crypto assets, including Bitcoin, have already seen their prices surge. BTC is currently at $69,506, representing more than a 64% rise in YTD price gains. At the time of writing, the ADA price was only $0.351, marking a 1.96% loss in the last 24 hours and an 8% surge in the past week. Its 24-hour trading volume is 269.35 million, and its market capitalization is 12.28 billion. Cardano’s whales have increased their holdings to about 2.94 billion Santiment’s data shows that large…

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Filed under: News - @ November 2, 2024 10:10 pm