Cardano’s price is set to experience a significant breakout, according to a prediction from crypto analyst CoreCrypto. The analyst noted a bull flag-like structure in Cardano’s price charts, suggesting a potential 50% surge in the near future. CoreCrypto highlighted the strong bullish momentum exhibited by Cardano and recommended accumulating more ADA at the current levels for potential gains.
For traders interested in entering the market, CoreCrypto suggested an entry range between the current market price and $0.98, with four targets set for the long trade. The targets include $1.08, $1.24, $1.36, and $1.49, indicating a substantial potential upside for Cardano. The analyst also advised setting a stop loss at $0.92, emphasizing the bullish breakout potential indicated by the support levels and confirmed retest.
Whales have been actively accumulating Cardano, with over 130 million coins bought recently, signaling their confidence in the crypto’s future price increase. Additionally, data from IntoTheBlock shows a surge in large transactions and bullish activity in the ‘Net Network Growth’ metric, indicating increasing investor activity on the Cardano network. This positive sentiment around ADA’s price outlook further supports the analyst’s prediction of a significant price surge.
Another crypto analyst, Dan Gambardello, has forecasted that Cardano’s price could rally up to $10 in the current bull run. With ADA crossing the $1 milestone, Gambardello anticipates a consolidation phase followed by a potential rally towards $5 and then $10. Additionally, analyst Sebastian shared a similar bullish outlook for Cardano, predicting a price breakout followed by a retest before a significant upward movement, aligning with CoreCrypto’s analysis.
At the time of writing, Cardano’s price is trading around $1.06, representing a 5% increase in the last 24 hours, as per data from CoinMarketCap. With the positive indicators and predictions from various analysts, including CoreCrypto and Dan Gambardello, the future looks bright for Cardano as it gears up for a potential significant price surge. Traders and investors are advised to monitor the market closely and consider accumulating ADA for potential gains in the upcoming bullish momentum.
