{"id":568884,"date":"2024-01-10T16:00:38","date_gmt":"2024-01-10T16:00:38","guid":{"rendered":"https:\/\/uniquehot.com\/?p=568884"},"modified":"2024-01-10T12:09:35","modified_gmt":"2024-01-10T12:09:35","slug":"cardano-ada-price-to-hit-6","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-ada-price-to-hit-6\/","title":{"rendered":"Cardano Price Explosion: Crypto Analyst Predicts ADA Price To Hit $6"},"content":{"rendered":"

Crypto analyst Ali Martinez has predicted an outstanding long-term price for Cardano (ADA), although subject to some downside before the target is reached. The Cardano (ADA) price is <\/span>currently declining<\/span><\/a>, down by 4.2% in the past 24 hours and 16.7% in a larger timeframe. The crypto did manage to turn bullish for a few hours yesterday, jumping 14.6% from a low of $0.4727 to $0.5421.\u00a0<\/span><\/p>\n

Most of this price gain has been shed off and the crypto is now trading at $0.5079, confirming an ongoing consolidation. However, according to crypto analyst Ali Martinez, Cardano’s current consolidation mirrors that of its 2018-2020 phase, which is preparing the groundwork for a strong bull run.<\/span><\/p>\n

ADA Mirroring Its Past Performance<\/h2>\n

Cryptocurrencies are known to repeat previous price actions, giving analysts an idea of what to expect based on the outcome of the previous performance. In this vein, a Cardano technical analysis shared on social media platform X by Ali Martinez indicated that ADA’s current consolidation is reminiscent of ADA’s price action whose breakout led to a 2,980% price surge.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Breakout To $0.001? Rumored 9.25 Trillion SHIB Token Burn Could Be The Catalyst<\/a><\/div>\n

According to the weekly timeframe chart shared by Martinez, ADA consolidated for 665 days between 2018 to 2020 before going on a price surge to reach $3.058, its current all-time high. If a repeat of this pattern were to successfully play out, we might see ADA continue to consolidate around this level until April. Consequently, a repeat of a 2,980% price surge from the current price would put a price target around $15.<\/span><\/p>\n

\n

So far, #Cardano<\/a> price action is echoing its 2018-2020 pattern!<\/p>\n

If this trend continues, we might see $ADA<\/a> consolidating around its current levels until April, setting the stage for a potential resumption of the bull run. pic.twitter.com\/bMy8zrxQIp<\/a><\/p>\n

\u2014 Ali (@ali_charts) January 8, 2024<\/a><\/p><\/blockquote>\n

\"Cardano<\/p>\n

ADA price at $0.5 | Source: ADAUSD on Tradingview.com<\/a><\/pre>\n
Current State Of Cardano<\/h2>\n
Cardano went through a price surge in the last quarter of 2023, mirroring a surge in July 2020. As a result, ADA recorded a 173% gain from $0.2435 in October to a yearly high of $0.6655 in December. However, the crypto has been on a decline since then. A recent larger decline among altcoins has also contributed to a further price decline.<\/span><\/p>\n
Related Reading: VanEck Announces Massive $72 Million Bitcoin ETF Seeding As Two Tickers Appear On DTCC Website<\/a><\/div>\n
On-chain <\/span>data from IntoTheBlock<\/span><\/a> shows that 47.45% of ADA addresses are currently making a profit. Notably, an interpretation of Martinez’s technical analysis of Cardano points to this number stalling at least until April. For long-term believers in ADA, the current consolidation is an opportunity to increase their holdings for the next bull run.<\/span><\/p>\n
Cardano still remains one of the most actively developed blockchain ecosystems, and <\/span>a new report<\/span><\/a> shows that development activity has outpaced that of Ethereum and Avalanche in the past 30 days.\u00a0<\/span><\/p>\n
A <\/span>continuation of this growth<\/span><\/a> coupled with a few other bullish market factors like the potential approval of <\/span>Spot Bitcoin ETFs<\/span><\/a> in the US could lead to ADA going on a sustained price surge before April.<\/span><\/p>\n
Featured image from The Economic Times, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst Ali Martinez has predicted an outstanding long-term price for Cardano (ADA), although subject to some downside before the target is reached. The Cardano (ADA) price is currently declining, down by 4.2% in the past 24 hours and 16.7% in a larger timeframe. The crypto did manage to turn bullish for a few hours yesterday, jumping 14.6% from a low of $0.4727 to $0.5421.\u00a0 Most of this price gain has been shed off and the crypto is now trading at $0.5079, confirming an ongoing consolidation. However, according to crypto analyst Ali Martinez, Cardano’s current consolidation mirrors that of its 2018-2020 phase, which is preparing the groundwork for a strong bull run. ADA Mirroring Its Past Performance Cryptocurrencies are known to repeat previous price actions, giving analysts an idea of what to expect based on the outcome of the previous performance. In this vein, a Cardano technical analysis shared on social media platform X by Ali Martinez indicated that ADA’s current consolidation is reminiscent of ADA’s price action whose breakout led to a 2,980% price surge.\u00a0 Related Reading: Shiba Inu Breakout To $0.001? Rumored 9.25 Trillion SHIB Token Burn Could Be The Catalyst According to the weekly timeframe chart shared by Martinez, ADA consolidated for 665 days between 2018 to 2020 before going on a price surge to reach $3.058, its current all-time high. If a repeat of this pattern were to successfully play out, we might see ADA continue to consolidate around this level until April. Consequently, a repeat of a 2,980% price surge from the current price would put a price target around $15. So far, #Cardano price action is echoing its 2018-2020 pattern! If this trend continues, we might see $ADA consolidating around its current levels until April, setting the stage for a potential resumption of the bull run. pic.twitter.com\/bMy8zrxQIp \u2014 Ali (@ali_charts) January 8, 2024 ADA price at $0.5 | Source: ADAUSD on Tradingview.com Current State Of Cardano Cardano went through a price surge in the last quarter of 2023, mirroring a surge in July 2020. As a result, ADA recorded a 173% gain from $0.2435 in October to a yearly high of $0.6655 in December. However, the crypto has been on a decline since then. A recent larger decline among altcoins has also contributed to a further price decline. Related Reading: VanEck Announces Massive $72 Million Bitcoin ETF Seeding As Two Tickers Appear On DTCC Website On-chain data from IntoTheBlock shows that 47.45% of ADA addresses are currently making a profit. Notably, an interpretation of Martinez’s technical analysis of Cardano points to this number stalling at least until April. For long-term believers in ADA, the current consolidation is an opportunity to increase their holdings for the next bull run. Cardano still remains one of the most actively developed blockchain ecosystems, and a new report shows that development activity has outpaced that of Ethereum and Avalanche in the past 30 days.\u00a0 A continuation of this growth coupled with a few other bullish market factors like the potential approval of Spot Bitcoin ETFs in the US could lead to ADA going on a sustained price surge before April. Featured image from The Economic Times, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":568903,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,89347,84005,86092,14643,79508,167,12332,89230,12329,6664,26263,14690],"class_list":["post-568884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","tag-ada-price-prediction","tag-adausd","tag-adausdt","tag-analyst","tag-cardano","tag-cardano-news","tag-cardano-price","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nCardano Price Explosion: Crypto Analyst Predicts ADA Price To Hit $6<\/title>\n<meta name=\"description\" content=\"Crypto analyst Ali Martinez has predicted an outstanding long-term price for 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Price Explosion: Crypto Analyst Predicts ADA Price To Hit $6","url":"http:\/\/uniquehot.com\/news\/cardano\/cardano-ada-price-to-hit-6\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardano\/cardano-ada-price-to-hit-6\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Cardano-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Cardano-1.jpeg?fit=1600%2C900"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada price","ada price prediction","adausd","adausdt","analyst","cardano","cardano news","cardano price","crypto","crypto analyst","crypto news"],"dateCreated":"2024-01-10T16:00:38Z","datePublished":"2024-01-10T16:00:38Z","dateModified":"2024-01-10T16:00:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Price Explosion: Crypto Analyst Predicts ADA Price To Hit $6\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-ada-price-to-hit-6\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-ada-price-to-hit-6\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Cardano-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Cardano-1.jpeg?fit=1600%2C900\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada price\",\"ada price prediction\",\"adausd\",\"adausdt\",\"analyst\",\"cardano\",\"cardano news\",\"cardano price\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-01-10T16:00:38Z\",\"datePublished\":\"2024-01-10T16:00:38Z\",\"dateModified\":\"2024-01-10T16:00:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Cardano-1.jpeg?fit=1600%2C900","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/568884"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=568884"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/568884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/568903"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=568884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=568884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=568884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}