Cardano (ADA) To Reach $6 By September 2025? Analyst Forecast 2021-Like Rally
November 16 2024 - 6:00AM
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Cardano (ADA) has seen a massive rally in the last few weeks,
surging over 81% in the past fourteen days. As the cryptocurrency
continues breaking past key levels, a renowned crypto analyst
highlighted its potential 2,000% climb. Related Reading: Analysts
Bullish On Dogwifhat (WIF) $5 Target As Price Retests $4 Resistance
Cardano To Hit $6 By Q3 2025 Crypto analyst Ali Martinez forecasted
that Cardano might hit the $6 mark by September 2025. Earlier this
year, the analyst noted that ADA’s chart reassembled a pattern
similar to 2020, which suggests that the cryptocurrency could
experience a rally like 2020-2021’s bull run. Per the post, ADA
broke out from its two-year consolidation in early 2020 before
retracing 75% and consolidating for most of the year. By November
2020, the token bounced from the accumulation range and started its
massive 4,000% rally, which lasted around nine months. This year,
Cardano has seen a similar move during the first leg of the cycle,
reaching its year-high of $0.81 before retracing 75% and
consolidating between the $0.6-$0.27 price range for the last eight
months. Following the crypto market’s recent rally, fueled by
Trump’s victory in the US elections and the Federal Reserve’s
decision to reduce interest rates by 0.25, Cardano has experienced
a massive 50% weekly surge. Martinez previously forecasted that ADA
could experience the second leg’s initial jump on November 18,
around two weeks after the US elections. However, the
cryptocurrency reclaimed the $0.6 support zone and broke above the
$0.65 horizontal level earlier today. This performance represents
an eight-month high for Cardano, which has been heavily criticized
for underperforming against most altcoins. According to the chart,
ADA might move sideways around this range for the following days
before challenging its year-high price. If ADA continues
replicating the last cycle’s pattern, the cryptocurrency could
reach the long-awaited $1 by year-end. Additionally, it could
surpass its previous $3.09 all-time high (ATH) by Q1 2025 before
entering price discovery mode. Martinez suggested that Cardano
could rise over 2,000% toward the $6 mark, reaching its top between
July and September 2025. ADA Among Today’s Market Leaders While
most cryptocurrencies in the top 100 move sideways, ADA has soared
21 % in the last 24 hours. The token surged as the third-best
performer today, behind XRP and ALGO. Besides the general economic
and geopolitical factors, its recent performance has also been
fueled by speculation surrounding Cardano’s potential involvement
with Trump’s administration. On Thursday, a member of the World
Economic Forum (WEF) and the United Nations (UN), Shawn,
shared on X that re-elected President Trump is exploring a federal
voting and identity verification system based on blockchain
technology. Related Reading: Dogecoin Frenzy Arrives In Korea:
‘Kimchi Premium’ Returns Amid DOGE’s 110% Rally Speculation arose
when another X user claimed that Cardano’s founder Charles
Hoskinson is “already in talks with the Trump administration,”
arguing that “they’ve been working with the state of Wyoming on
voting systems for a couple of years now.” Cardano has rallied an
impressive 84% in the last month, breaking above the $0.65 mark for
the first time since late March and recovering its top 10 crypto
spot. As of this writing, ADA trades at $0.67. Featured Image from
Unsplash.com, Chart from TradingView.com
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