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Home»ALTCOIN NEWS»‘Exactly where it needs to be’ – Trader says leader in Ethereum rival surges more than 190%.
ALTCOIN NEWS

‘Exactly where it needs to be’ – Trader says leader in Ethereum rival surges more than 190%.

By Crypto FlexsApril 11, 20242 Mins Read
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‘Exactly where it needs to be’ – Trader says leader in Ethereum rival surges more than 190%.
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One prominent cryptocurrency trader thinks Ethereum (ETH) rival Cardano (ADA) could surge more than 190%.

Onchain analyst Ali Martinez said Last month, 57,500 followers on social media platform

“If this fractal continues, we expect ADA to consolidate in the $0.55-$0.80 range in the coming weeks, followed by a surge to $1.70. “After this uptrend, we expect a further period of consolidation, setting the stage for a breakout of $5.”

Martinez this week updated His forecast indicated that ADA is “exactly where it needs to be” ahead of a possible breakout to $1.70.

The 11th-largest cryptocurrency asset by market capitalization is trading at $0.582 at the time of this writing, down nearly 4% over the past 24 hours and nearly 25% over the past month.

Source: ali_charts/X

Martinez too. note Bitcoin (BTC) address indicators suggest the price of the top cryptocurrency asset could rise higher.

“Comparing support (1.4 million addresses holding 893,000 BTC between $68,220 and $70,325) and resistance (474,000 addresses holding 285,000 BTC between $70,760 and $71,200), the odds appear to be in favor of a Bitcoin bull!”

video
Source: ali_charts/X

At the time of this writing, Bitcoin is trading at $69,678. The top cryptocurrency asset by market capitalization is up about 6% last week but is down about 4% over the past month.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Image created: DALLE3

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