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Home»ALTCOIN NEWS»If history repeats itself, Cardano could explode by more than 1,300%, but there’s a catch, according to Trader.
ALTCOIN NEWS

If history repeats itself, Cardano could explode by more than 1,300%, but there’s a catch, according to Trader.

By Crypto FlexsJanuary 21, 20242 Mins Read
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If history repeats itself, Cardano could explode by more than 1,300%, but there’s a catch, according to Trader.
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Crypto analyst and trader Ali Martinez said Cardano (ADA) could potentially enjoy explosive upside from current levels.

Martinez says 41,000 followers on social media platform

The cryptocurrency analyst and trader says the current consolidation phase is similar to what was experienced in 2020, right before ADA soared from around $0.10 to an all-time high of just over $3. This is a gain of over 2,900%.

According to the cryptocurrency analyst and trader, “If history repeats itself, we could see ADA resume its upward trend around April.”

As for his target for Cardano, Martinez says a correction of around 25% is likely awaiting the ninth-largest cryptocurrency asset by market capitalization on its way to hitting new all-time highs.

“If this pattern continues, we could potentially see a rise to $0.80, a brief correction to $0.60, and then $7!”

Source: Ali Martinez/X

Cardano is trading at $0.499 at the time of this writing, approximately 1,302% below the $7 target.

Next is XRP. Martinez Called He is bearish on the sixth-largest cryptocurrency asset by market capitalization and predicts a potential decline of more than 30% from current levels.

“XRP is currently struggling to maintain the critical $0.55 support level. If this support does not hold, prepare for a sell scenario that could see XRP fall to $0.34!”

Source: Ali Martinez/X

XRP is trading at $0.551 at the time of writing, about 38% above Martinez’s potential downside target of $0.34.

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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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