TL;DR
Cardano’s ADA saw some volatility but currently trades at approximately the same level observed a week ago.
Analysts believe a potential rise to $1.70 and even an all-time high of $10 in the near future is not out of the cards.
In the last seven days, the prices of major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE) have bounced back strongly. However, Cardano’s ADA is an exception to this trend.
The current value of the asset on CoinGecko is around $0.58, which is nearly identical to its value a week ago.
Some analysts remain optimistic about ADA‘s future despite consolidation. For instance, well-known X platform user Ali Martinez shared a chart suggesting that the current price of the token is right on target.
He claimed that ADA’s next move might be an explosion towards $1.70, as long as the valuation stays in the $0.55-$0.80 range.
Cardano’s situation remains unaltered. The price of $ADA sits comfortably within the $0.55 to $0.80 zone, preparing for an uptrend towards $1.70.
— Ali (@ali_charts) April 9, 2024
Before now, Ali Martinez had expressed the opinion that the token was poised for a significant surge in price, similar to its past bull run, potentially reaching a peak of $10.
For those interested in examining more ADA price predictions from various analysts, please refer to the video we’ve prepared specifically for that purpose.
Last month, the native token of Cardano grabbed attention in the cryptocurrency world. At one point, it even surpassed other major players like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) in terms of development activity. Furthermore, it recorded the highest level of weekly engagement among all digital currencies.
In January, ADA took the top spot in the rankings, replacing Polkadot (DOT) and Kusama Network (KSM) that had previously held the first and second positions.
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2024-04-11 18:00