Cryptocurrency analyst Ali Martinez drew Cardano (ADA) community Pay attention to important indicators that can make you optimistic about the price of Cardano. According to his analysis, the cryptocurrency token could experience a rally that could push it up to $1.
Cardano could soon experience a 75% price increase
Martinez mentioned in X (formerly Twitter) post Cardano could see “another impressive bounce” as its Market Value to Realized Value (MVRV) falls below -22%. He noted that the last time the MVRV ratio fell below -22%, the price of ADA rose more than 75%. An increase of more than 75% from Cardano’s current price level would push it past the $1 mark.
Cryptocurrency Analyst Trend Rider It also recently raised the possibility of Cardano rising to $1. He mentioned in X post If the cryptocurrency token can defend the $0.44 support level, it could rise to this price level in 1-3 months. previously X postHe also noted: Cardano’s Bull Run It may become active again if the price recovers above $0.54.
Interestingly, Trend Rider previously predicted If history repeats itself, Cardano could rise to $3. He cited October 2020, when the price of Cardano fell to $0.10 and then soared to $3. He suggested this could happen again as the cryptocurrency token faces its “ultimate support test.”
Total crypto market cap currently at $2.261 trillion. Chart: TradingView
Cardano setting support levels appears to be preventing the cryptocurrency token’s parabolic price surge. Crypto analyst Alan Santana also hinted at this. talking The idea is that ADA could find support as low as $0.34 before the cryptocurrency token gains strength again.
It’s not Cardano season yet
And Gambardello, founder of Crypto Capital Venture, commented that Cardano’s price is “frustrating” as it is not yet “Cardano season.” He is confident that cryptocurrency tokens will soon have a season and “will do really well.” but, ADA holder We may have to wait a while, as analysts have warned that Cardano’s power shift could be months away.
Meanwhile, Gambardello revealed: Cardano Cryptocurrency prices could still fall into the “low 30s” amid fears of war breaking out. Israel and Iran. However, the analyst also offered some optimism, predicting that ADA could “bounce like crazy” along with other crypto tokens once this period of fear is over.
At the time of writing, Cardano is trading at around $0.49, up more than 9% in the last 24 hours. data From CoinMarketCap.
Featured image from Pexels, chart from TradingView