{"id":607047,"date":"2024-05-08T23:00:14","date_gmt":"2024-05-08T23:00:14","guid":{"rendered":"https:\/\/uniquehot.com\/?p=607047"},"modified":"2024-05-08T12:57:57","modified_gmt":"2024-05-08T12:57:57","slug":"cardano-5600-rally-to-25","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-5600-rally-to-25\/","title":{"rendered":"Cardano Entry Of A Lifetime: Analyst Predicts 5,600% Rally To $25"},"content":{"rendered":"

Cardano is currently in a downtrend<\/a>, continuing to show bearish tendencies as its price trends below $0.5. However, where many have seen an altcoin that does not have many prospects, crypto analyst FieryTrading believes that the digital asset is giving investors an opportunity to get in for cheap<\/a>.<\/p>\n

Cardano Can Break Out Of Parallel Channel<\/h2>\n

In an analysis on the TradingView website, crypto analyst FieryTrading alludes to Cardano\u2019s ability to break out and go on a massive bull run. The analysis draws from a previous analysis<\/a> where the analyst had pointed out that the Cardano price<\/a> had entered a parallel channel.<\/p>\n

Related Reading: Here\u2019s How This Ethereum Whale Made $16 Million From A Single Trade<\/a><\/div>\n

This parallel channel emerged with the last cycle\u2019s top going into the current cycle top with a line drawn from the last cycle\u2019s bottom when the lockdown had sent crypto prices crashing. Despite the crypto analyst first pointing out this parallel channel back in 2023, they believe that it continues to remain valid, especially as the price continues to rtend low.<\/p>\n

Back then, the crypto analyst had predicted that the ADA price<\/a>, if it were to break out of this parallel channel, could rise as high as as $35. This bullish expectation continues with the most recent analysis, albeit with a price adjustment.<\/p>\n

In the Wednesday analysis<\/a>, FieryTrading notes that There is still the possibility for the altcoin\u2019s price to reach the top of the channel. In this case, the price would fully complete the move toward $30. However, the crypto analyst\u2019s chart carries a $25 target, which would be a 5,600% rally from its current level.<\/p>\n

\"Cardano<\/p>\n

Source: TradingView.com<\/pre>\n
ADA Bears Maintain Control<\/h2>\n
Despite the bullish outlook maintained by the crypto analyst, Cardano has succumbed to the bears<\/a>. The price has dropped as low as $0.44 in the last day, indicating a 1.38% decline. On a wider timeframe, the ADA price<\/a> looks even worse, with an almost 28% drop in one month.<\/p>\n
Related Reading: Can Ethereum Reclaim $4,000? Fragile Fundamentals Threaten To Send ETH Crashing<\/a><\/div>\n
However, despite this trend, the analyst still believes that investing in Cardano right now is a risk worth taking. FieryTrading refers to it as \u201cthe entry of a lifetime\u201d that could guarantee good returns. Moreover, the analyst gives it a R\/R (risk\/reward) ratio of 116, which is a good number.<\/p>\n
For now, the ADA price<\/a> is still struggling to hold up in the market. This is not helped by the decline in market sentiment, leading to a nasty 22% drop in its daily trading volume, according to data<\/a> from Coinmarketcap.<\/p>\n
\"Cardano<\/p>\n
ADA price at $0.43 | Source: Source: ADAUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from Binance Academy, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Cardano is currently in a downtrend, continuing to show bearish tendencies as its price trends below $0.5. However, where many have seen an altcoin that does not have many prospects, crypto analyst FieryTrading believes that the digital asset is giving investors an opportunity to get in for cheap. Cardano Can Break Out Of Parallel Channel In an analysis on the TradingView website, crypto analyst FieryTrading alludes to Cardano\u2019s ability to break out and go on a massive bull run. The analysis draws from a previous analysis where the analyst had pointed out that the Cardano price had entered a parallel channel. Related Reading: Here\u2019s How This Ethereum Whale Made $16 Million From A Single Trade This parallel channel emerged with the last cycle\u2019s top going into the current cycle top with a line drawn from the last cycle\u2019s bottom when the lockdown had sent crypto prices crashing. Despite the crypto analyst first pointing out this parallel channel back in 2023, they believe that it continues to remain valid, especially as the price continues to rtend low. Back then, the crypto analyst had predicted that the ADA price, if it were to break out of this parallel channel, could rise as high as as $35. This bullish expectation continues with the most recent analysis, albeit with a price adjustment. In the Wednesday analysis, FieryTrading notes that There is still the possibility for the altcoin\u2019s price to reach the top of the channel. In this case, the price would fully complete the move toward $30. However, the crypto analyst\u2019s chart carries a $25 target, which would be a 5,600% rally from its current level. Source: TradingView.com ADA Bears Maintain Control Despite the bullish outlook maintained by the crypto analyst, Cardano has succumbed to the bears. The price has dropped as low as $0.44 in the last day, indicating a 1.38% decline. On a wider timeframe, the ADA price looks even worse, with an almost 28% drop in one month. Related Reading: Can Ethereum Reclaim $4,000? Fragile Fundamentals Threaten To Send ETH Crashing However, despite this trend, the analyst still believes that investing in Cardano right now is a risk worth taking. FieryTrading refers to it as \u201cthe entry of a lifetime\u201d that could guarantee good returns. Moreover, the analyst gives it a R\/R (risk\/reward) ratio of 116, which is a good number. For now, the ADA price is still struggling to hold up in the market. This is not helped by the decline in market sentiment, leading to a nasty 22% drop in its daily trading volume, according to data from Coinmarketcap. ADA price at $0.43 | Source: Source: ADAUSDT on Tradingview.com Featured image from Binance Academy, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":607064,"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":[12333,89347,84005,14643,79508,167,12332,89230,12329,6664,26263,14690],"class_list":["post-607047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-price","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 Entry Of A Lifetime: Analyst Predicts 5,600% Rally To $25<\/title>\n<meta name=\"description\" content=\"Cardano is currently in a downtrend, continuing to show 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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 Entry Of A Lifetime: Analyst Predicts 5,600% Rally To $25","url":"http:\/\/uniquehot.com\/news\/cardano\/cardano-5600-rally-to-25\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardano\/cardano-5600-rally-to-25\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Cardano_cffd68.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/05\/Cardano_cffd68.png?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","adausd","adausdt","analyst","cardano","cardano news","cardano price","crypto","crypto analyst","crypto news"],"dateCreated":"2024-05-08T23:00:14Z","datePublished":"2024-05-08T23:00:14Z","dateModified":"2024-05-08T23:00:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Entry Of A Lifetime: Analyst Predicts 5,600% Rally To $25\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-5600-rally-to-25\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-5600-rally-to-25\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Cardano_cffd68.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Cardano_cffd68.png?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\",\"adausd\",\"adausdt\",\"analyst\",\"cardano\",\"cardano news\",\"cardano price\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-05-08T23:00:14Z\",\"datePublished\":\"2024-05-08T23:00:14Z\",\"dateModified\":\"2024-05-08T23:00:14Z\"}<\/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\/05\/Cardano_cffd68.png?fit=1600%2C900","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/607047"}],"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=607047"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/607047\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/607064"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=607047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=607047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=607047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}