Cardano Now up 200% in November, but Expert Says This is Nothing Compared to What is Coming
The post Cardano Now up 200% in November, but Expert Says This is Nothing Compared to What is Coming appeared on BitcoinEthereumNews.com.
A seasoned market analyst has made an audacious Cardano prediction, insisting that its recent break above the one-dollar mark is nothing compared to what lies ahead. Cardano broke above $1 on Friday as bullish momentum reached astronomical levels. The asset has not slowed down yet, surging further to $1.14 before consolidating at $1.09 at the time of writing. Notably, Cardano is up 25% in the past 24 hours and a staggering 213% from its price 30 days ago. According to analyst Ali Martinez, the preposterous uptick is a glimpse of Cardano’s ultimate bullish target. Something Huge on Cardano’s Horizon Martinez insisted that Cardano is still in the early stages of its targeted explosion. In a Friday X thread, he cited bullish on-chain metrics as his basis for his assertion. First, the analyst pointed to a growing whale and institutional accumulation of Cardano as a sign that something explosive is coming for the asset. Martinez’s analysis shows that the large transaction volume on the Cardano network has surged past $22 billion daily. He further indicated that the impressive daily transactions on Cardano were actually accumulations other than sales or fund relocation. The analyst deduced his claims from the uptick in whales holding between 1 million and 10 million ADA, who have topped by stash by 100% in the past month. Meanwhile, Martinez noted that bullish on-chain activities have started exerting upward pressure on ADA’s price, which is evident in the recent outburst. His commentary further asserts that sustaining these bullish metrics would spur Cardano to mirror its previous bull cycle. The analyst also reiterated his earlier prediction, insisting that Cardan would hit $6 by 2025. Notably, ADA is now 450% away from this price target and 184% from its all-time high of $3.10. Furthermore, Martinez’s analysis aligns with Cardano bull Dan…
Filed under: News - @ November 23, 2024 9:22 am