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Cardano Rally Gains Steam: Analysts Predict $10 to $40 Scenarios for ADA
The cryptocurrency market is witnessing a significant surge in the price of Cardano (ADA), with the token gaining 25% in just one week. This impressive rally has sparked predictions from analysts, suggesting that the asset could reach astonishing heights, potentially breaking past $10 or even reaching as high as $40.
ADA Eyes $1 Breakout
Cardano’s price chart is showcasing a classic double-bottom pattern, indicating a strong possibility of a breakout above $0.76. This development, combined with rising TVL on DeFi Llama, has ignited bullish sentiment in the market. The platform’s total value locked (TVL) skyrocketed by 50% within just seven days, now holding a staggering $336 million.
Market analysts are divided over the possibility of ADA reaching $1 or even higher. Some experts suggest that if Cardano breaks above this critical resistance, it could usher in a new wave of growth, targeting $10 as its next major milestone. However, another group of market strategists argue that such a rapid rise would be unsustainable and expect a pullback before the asset can continue to advance.
Cardano’s rising TVL and chart patterns, in conjunction with the introduction of a crypto-linked payment card, has sparked excitement among traders. This innovative solution is expected to boost ADA’s real-world utility beyond mere trading, paving the way for continued growth.
Source: blockonomi.com
