It has been just predicted that Cardano could explode in price by over 1,300% if history were to repeat itself. Check out the latest reports about this below.
Cardano price could explode
According to cryptocurrency analyst and trader Ali Martinez, Cardano (ADA) may soon experience a significant surge in value.
Martinez shared on social media platform X that Cardano is currently in a consolidation phase on the three-day chart, much like what it experienced in 2020 before its value rose from roughly $0.10 to an all-time high of slightly over $3 – a remarkable gain of over 2,900%.
According to the crypto analyst and trader, “If history repeats itself, we might see ADA resuming its upward trend around April.”
According to Martinez, Cardano may experience a 25% correction before reaching a new all-time high.
“This pattern continuation could potentially lead to an upswing toward $0.80, a brief correction to $0.60, then $7!”
Cardano is trading at $0.499 at time of writing, about 1,302% below the target of $7.
According to Martinez, XRP, the sixth largest cryptocurrency by market capitalization, is not looking good. He predicts that the price could fall by over 30% from the current level.
Currently, XRP is struggling to hold the critical support level of $0.55. If this support level fails, there could be a sell-off scenario, and the price of XRP could drop to as low as $0.34.
According to cryptocurrency analyst and trader Kevin Svenson, Bitcoin (BTC) could follow a certain trajectory over the next few weeks and months.
Svenson, who has 71,300 subscribers on YouTube, suggests that the S&P 500, an index that monitors the stock performance of the top 500 listed companies in the US, has acted as a leading indicator for Bitcoin in the past, signaling when it is about to hit a new all-time high.
“The S&P is always leading Bitcoin on the all-time high breaks. And this is a good sign because Bitcoin is still 40% below its all-time high and the S&P is right near its all-time high.”
