Cardano Sees Strong Price Momentum as Analysts Set Bullish Targets
The cryptocurrency’s daily trading volume has reached a seven-month high, topping $52 billion, while whale transactions have also spiked, reaching levels not seen in six months. In addition to this, the open interest (OI) in ADA futures has increased significantly, with OI hitting $735 million. This growing momentum has prompted analysts to reassess Cardano’s potential price targets, with some projecting even higher gains.
Analysts are particularly focused on the $1 mark, which corresponds to a key Fibonacci retracement level. If ADA manages to close above this psychological threshold, it could signal further price increases.
Beyond $1, the next targets range from retesting its previous all-time high of $3.12 to possibly reaching $6.00, driven by expanded adoption of the Cardano blockchain. In the most optimistic scenario, some analysts believe ADA could rise as high as $12 to $15, should the current bullish trend continue.
Cardano’s momentum is further supported by technical charts that show the cryptocurrency moving within an ascending price channel, a pattern that has persisted for several years. This suggests consistent investor interest and accumulation, especially as ADA tests support levels within the channel. One analyst predicts a conservative price of $3.50 in the near term, with the potential for ADA to surge to $10 if the market continues its positive trajectory.
On-chain metrics continue to back up this optimistic outlook. A surge in futures OI indicates increasing market activity and growing investor confidence, with a significant rise from $585 million to $735 million within just a few days. Meanwhile, large investors, or “whales,” have been increasing their positions, with whale transactions up 145% over the past month. This is accompanied by a surge in decentralized finance (DeFi) activity on the Cardano network, with the Total Value Locked (TVL) approaching its all-time high of $490.7 million. All these factors combined point toward a continued bullish outlook for ADA in the near future.
Cardano’s Price Dip: An Opportunity for Investors Eyeing a Recovery
Cardano (ADA) has recently seen a notable decline in its price, dropping by 22% in the past few days. While this decrease might raise concerns for some, it may actually present an attractive opportunity for long-term investors. The current dip is being viewed as a chance for buyers to acquire ADA at lower prices, fueling […]
Cardano’s ADA Holds Strong as Investors Bet Big on a $2 Target
Cardano (ADA) continues to maintain its price around the $1.20 level, after a significant surge in the past 30 days. Despite giving up some of its earlier weekly gains, analysts believe the cryptocurrency is holding strong and preparing for a potential rally that could push its price towards $2. Key support levels play a vital […]
Cardano Shows Strong Momentum Amid Bullish Market Trends
Cardano (ADA) has been on a remarkable rally, climbing nearly 42% over the past week and capturing the attention of crypto enthusiasts. This strong uptrend is backed by technical indicators like the ADX, which signal sustained bullish momentum. However, short-term market signals hint at potential consolidation ahead if buying pressure falters. The Average Directional Index […]
Cardano Sees Steady Growth as Big Holders Lock In for the Long Term
With Cardano whales holding off on selling, ADA gained 3.66% in the last day, supporting a slow but steady climb. The latest data indicates a significant decrease in the “Large Holder Netflow” metric for ADA, which measures the net inflow and outflow of assets held by major investors. This metric fell by 1,181.52% over the […]
-
1
Cardano’s Price Dip: An Opportunity for Investors Eyeing a Recovery
04.02.2025 19:00 2 min. read -
2
Cardano Shows Strength – is a $10 Surge Possible?
05.03.2024 20:05 2 min. read -
3
Cardano Sees Steady Growth as Big Holders Lock In for the Long Term
07.11.2024 13:00 2 min. read -
4
Cardano Sees Strong Price Momentum as Analysts Set Bullish Targets
21.11.2024 14:00 2 min. read -
5
Cardano Shows Strong Momentum Amid Bullish Market Trends
22.11.2024 9:00 1 min. read