TL;DR
- Analysts and traders anticipate a significant price surge for ADA, citing specific favorable technical patterns.
- Some optimists think the asset may soon hit a new ATH of as high as $7.
‘Grand Bull Market’ Incoming?
The cryptocurrency market has been on a tear in the past several hours, with some leading digital assets reaching unseen levels. Bitcoin (BTC), for instance, tapped an all-time high of over $109,000 earlier today (January 20).
Cardano’s ADA has also recorded a solid performance in the past several days despite not hitting a new peak. Its price is up over 15% on a weekly scale, currently trading at approximately $1.09 (per CoinGecko’s data).
Numerous industry participants think the recent rally could be just the ignition of a massive surge for Cardano’s native token. The veteran trader Peter Brandt believes the altseason is incoming, with ADA poised for a “grand bull market.”
X user Ssebi also touched upon the matter, claiming that the token’s price has touched the 20-day Moving Average (MA) and “bounced off it.”
“I think we are about to see an explosion for ADA in the next few days. The liquidity from TRUMP has got to flow somewhere,” they assumed.
Other market observers outlining price predictions lately include Dan Gambardello and Altcoin Daily. The former thinks ADA has “one of the most bullish weekly pattern setups in crypto,” envisioning a potential price explosion to as high as $7. Altcoin Daily forecasted that the valuation might hit $6.45 sometime in 2025.
The Potential Success in the Following Months
Trump’s incoming presidency is considered good news by the crypto community in general due to his positive stance toward the industry outlined in the past several months. Cardano’s ADA is among the digital assets that may experience a substantial rally due to his return to the White House, considering Hoskinson’s disclosure in November last year.
Back then, Cardano’s founder revealed his intentions to work alongside Trump’s cabinet to create a comprehensive and possibly more favorable regulatory environment for the crypto industry.
In addition, Cardano’s ecosystem is set to undergo some essential developments this year, and that possible progress might trigger a positive effect on the price of the native token. Some of the improvements involve the Hydra scaling solution. Those curious to explore what else is on the agenda, please take a look at our dedicated video below:
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