Top Analyst Says Cardano Can ‘Realistically’ Pump to $3 in Four Weeks: Here’s How
The post Top Analyst Says Cardano Can ‘Realistically’ Pump to $3 in Four Weeks: Here’s How appeared on BitcoinEthereumNews.com.
While Cardano (ADA) has dropped 21% over the past week, some analysts are issuing bold timelines for when ADA could reach $3. Today, Cardano witnessed a significant decline in its market value, falling sharply from $1.30 last week to a low of $0.911 before rebounding slightly. As of writing, ADA is priced at $0.9967, reflecting a 12.36% drop in the past 24 hours and a 21.11% decline over the past seven days. This downturn has sparked differing opinions among analysts concerning ADA’s future price direction and market sentiment. Cardano Could Rally to $3 Anytime Soon Prominent Cardano bull Dan Gambardello predicts a significant surge in ADAâs price, suggesting it could climb to $2 sooner than most people anticipate. Additionally, Gambardello’s analysis suggests that ADA could “realistically” hit $3 as early as January 10, 2025, just four weeks away. The foundation of this bold forecast is the historical trend of ADA seeing a massive pump from Q4 2020 into Q1 2021. However, he offered a more cautious timeline, noting that January 24 might be a more realistic target for ADA to reach $3, as he tends to be slightly early in his predictions. While this outlook reflects optimism for Cardano, the challenges of the current bearish market remain. Cardano prediction by Dan Gambardello Short-term Pressure on ADA Bull Run In contrast, analyst Ali Martinez focused on ADAâs immediate hurdles to regain bullish momentum. His analysis identifies a critical support level near $1.20, where approximately 93,000 addresses collectively hold 2.54 billion ADA. This level represents a vital zone for price stability. Martinez cautions that a failure to hold above $1.20 could result in a deeper decline below $1. His chart notes that bearish sentiment persists, with 64.68% of ADA holders currently facing unrealized losses. This may lead to additional selling pressure during…
Filed under: News - @ December 10, 2024 9:25 pm