Cardano (ADA) cryptocurrency has been at the center of attention concerning digital assets having historically demonstrated tremendous profitability to its investors.
Additionally, it may also be noted that in the previous month of April, ADA was often a top performer with an average return standing at 26% and a median value of 7.47%, often experiencing double-digit gains. Will this trend be followed by 2024? stakeholders anticipate eagerly as April approaches.
At present, Cardano maintains a steady pace in the market, attracting attention and showing resilience. As of the time of reporting, the price of Cardano stands at $ 0.653037, with a 24-hour trading volume of $ 791.36M and a market cap of $ 22.09B. Over the last 24 hours, ADA has witnessed a modest increase of 1.83%.
Cardano (ADA) Potential to Hit $5 – Analysts Predict Bull Run
Crypto analysts are bullish on ADA’s future trajectory, foreseeing a potential surge in the coming months. Among them, analyst Ali Martinez shares an optimistic outlook, drawing parallels between current market patterns and those observed from 2018 to 2021.
Martinez predicts a consolidation phase for ADA in the $0.55 to $0.80 range in the upcoming weeks, followed by a surge to $1.70. Subsequently, a period of further consolidation is expected, paving the way for a breakout to $5.
To back up this bullish claim, Cardano DApp Analyst has predicted that ADA could possibly make ATHs within 90 days. What propels such predictions are historical data revealing how altcoins usually outdo Bitcoin post-halving events.
According to the analyst, around 90 days after Bitcoin broke its all-time high in 2020, Cardano reached its highest peak at $1.30 as well. Furthermore, these market cycles repeating themselves show that they can be predicted and indicate that ADA is likely to another huge rise ahead.
However, while market fluctuations may lead to uncertainty, analysts advise patience and urge investors to consider historical patterns. As the crypto market dynamics keep changing fast, being alert and based on data-driven analysis is crucial for navigating through it.
