Cardano (ADA) has always been known for its strong performance during bull market cycles, often leading to substantial price rallies and significant profits for its holders. However, predicting the extent of its price surge in the next bull market can be a challenging task. In this article, we will examine the insights of a crypto analyst who aims to shed light on the potential price trajectory of Cardano in the upcoming bullish phase.
According to a detailed analysis posted on TradingView by crypto analyst masoud_paydarsani, Cardano’s ADA token has been forming a long-term upward channel on the weekly time frame. While the uptrend may seem relatively slow, it does not diminish the coin’s bullish tendencies. Historically, ADA has exhibited a pattern of repeating its previous bull market cycles.
The analyst highlights an interesting observation about the past crypto market cycles. They note that these cycles typically consisted of approximately 108 weeks of bear market followed by 66 weeks of the bull market. It is during these 66 weeks that ADA has shown remarkable performance. By leveraging the previous performances of Cardano, specifically the substantial run-up in 2021, the analyst suggests that ADA’s price could potentially surge to double-digits.
Considering the validation of the upward channel, the next ADA bull run could follow a similar trend. The analyst notes that if this pattern continues, the ADA price could rise as high as $24. Moreover, based on historical performance, this surge may occur within the next 66 weeks. Therefore, it is plausible that we may not witness the completion of this rally until 2025.
Interestingly, this forecast of ADA reaching double-digit prices is not exclusive to masoud_paydarsani. Another prominent crypto analyst, @LucidCiC on X (formerly Twitter), also shares a similar belief, envisioning ADA surpassing the $20 mark. In fact, Lucid goes a step further, projecting a potential price target of $30 for Cardano. Drawing a parallel between Cardano and the Ethereum network, Lucid highlights that despite facing numerous obstacles, Ethereum achieved a market cap of $500 billion. Consequently, Lucid anticipates Cardano to follow suit, expecting the overall crypto market cap to exceed $10 trillion within the next decade.
Cardano has been attracting a significant amount of attention from institutional investors. Notably, Grayscale Investments, the company behind the world’s largest Bitcoin trust, recently unveiled new crypto indices featuring ADA. This move comes as a response to the growing interest in Cardano among institutional participants. If these large investors continue to increase their exposure to ADA, it could potentially drive the price towards the predicted double-digit mark emphasized by both masoud_paydarsani and Lucid.
As we anticipate the next bull market cycle, Cardano holds the potential to surge to new heights. Based on its historical performance and the formation of an upward channel, ADA may experience a substantial price rally, potentially reaching double-digit figures. With the support of institutional investors and the overall growth of the cryptocurrency market, Cardano has a strong foundation to achieve these lofty price targets. However, it is important to approach these predictions with caution, as the cryptocurrency market remains highly volatile and subject to unexpected fluctuations.
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