The post Cardano Price Forecast: Analyst Eyes Massive 1,233% appeared on BitcoinEthereumNews.com.

Analyst Predicts that Cardano (ADA) could stage its bullish run earlier than expected.  Ali Martinez had earlier predicted that ADA would continue its consolidation phase till April 2024.  The 8th largest crypto by market cap, Cardano (ADA), had a busy week, moving to-and-fro on the price curve in an attempt to convert its close resistance price point to a support level. Its weekly gain as of press time was 9%, however, the asset has declined by 1.3% in the last 24 hours to trade at $0.588387.  Interestingly, a popular crypto analyst Ali Martinez offers a relieving prediction, suggesting that the asset could trigger its bull run earlier than expected. According to him, ADA may rise to $0.8, retrace to $0.6, then stage a 1233% bull run to hit $8.  The #Cardano breakout may come earlier than expected! Still, if history repeats itself, we are anticipating $ADA to rise to $0.80, retrace to $0.60, and then enter a bull run toward $8 by January 2025! Cardano is reported to have surged gradually since January 23 after falling to $0.44. Later, investors pushed the asset above its daily MA 50 to hit $0.53. For now, the $0.613–$0.617 price range is reported to have been a critical resistance area since mid-January. In this case, the asset could target $0.68 after breaching this zone. From there, it could move directly to $0.8 as predicted by Ali Martinez. Interestingly, ADA could take a surprising turn if it falls below the MA 50. When this happens, the asset could witness a long liquidation which could send the price to the $0.44 support level.  Ali Martinez’s Earlier Prediction on Cardano Ali Martinez earlier this month observed that the current price of ADA seems to be imitating the 2020 market cycle. At that time, he predicted that the…

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Filed under: News - @ February 18, 2024 12:24 am