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BlockNews
Home CRYPTO

Analysts Believe Cardano Could Hit $6 This Cycle, and Here is Why (BULLISH)

Michael Juanico by Michael Juanico
November 15, 2024
in CRYPTO, FEATURED, OPINION
Reading Time: 3 mins read
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• Crypto analyst Ali Martinez predicted that the Cardano price can reach $6 between July and September 2025 based on historical trends
• Another analyst, Sebastian, indicated that the Cardano price could rally to $1 in the short term, highlighting a bullish pennant formation on ADA’s daily chart
• Sebastian also raised the possibility of the Cardano price reaching $20 in this market cycle, citing potential factors like Bitcoin holders investing heavily in the Cardano ecosystem and Charles Hoskinson becoming a crypto advisor in Trump’s administration

Crypto analyst Ali Martinez made a bold prediction that the Cardano price could reach $6 in the next bull market cycle between 2023 and 2025. He provided historical analysis to back up his forecast.

JUST IN: Cardano $ADA has increased 100% over the last 10 days, hitting a 242-day high of $0.70 🚀 pic.twitter.com/whs9TvIkHD

— BlockNews (@blocknewsdotcom) November 15, 2024

The $6 Prediction

In a recent analysis, Ali Martinez predicted that Cardano’s price could hit $6 sometime between July and September 2025.

Martinez pointed to ADA’s previous bull cycle that started in November 2020 and ended in September 2021. During that rally, the price surged over 4,000% from around $0.10 to its all-time high of $3.10.

The analyst believes a similar parabolic run could play out again in the next cycle, potentially taking Cardano up over 2,200% to around $6. His accompanying chart shows how ADA started a new uptrend this month, gaining over 90% already since November 4.

Path to $20?

Martinez is not the only one with a bullish outlook on ADA’s future price. Analyst Sebastian recently floated the idea of Cardano reaching $20 this market cycle.

He argued that if ADA hit $20, its market cap would be around $700 billion. Sebastian believes this is feasible considering Ethereum reached $560 billion last cycle.

Factors like heavy Bitcoin investor inflows into Cardano as a layer-1 solution, and Charles Hoskinson becoming a crypto advisor could catalyze such a price surge, Sebastian explained.

Short-Term Target at $1

While the road to $6 or even $20 seems long-term, some analysts eye an imminent breakout to $1 in the near-term.

Sebastian highlighted a bullish pennant pattern on the daily chart that could send ADA to $1 upon a breakout. This aligns with the overall bullish outlook.

Conclusion

In summary, analysts like Martinez and Sebastian have set lofty long-term price targets for ADA in the $6 to $20 range this cycle. A move to $1 could happen in the coming weeks based on bullish chart patterns.

Cardano’s fundamentals also continue to improve with updates like Vasil. The network activity and developer interest remains strong.

With bitcoin rallying and macros stabilizing, analysts are growing confident that ADA could post huge returns in the next bull market. However, investors should do their own research before buying.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Ali Martinezall-time highbullishCardanoethereum
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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