Cardano (ADA) All Set for a 10x Rally to $10, Says Top Analyst
Main Idea
Cardano (ADA) is poised for a significant price rally, potentially reaching $10, driven by bullish technical indicators, whale accumulation, and upcoming network upgrades.
Key Points
1. Cardano (ADA) price has shown a bullish trend, rallying 12% in the last seven days to $0.822, supported by a 'golden cross' and a weekly MACD buy signal.
2. Whales have aggressively bought ADA, with futures open interest surging from $238 million in November 2024 to $1.41 billion, and over 200 million ADA purchased in the last 48 hours.
3. Analyst Dan Gambardello predicts a 10x rally for ADA in the 2025 altseason, with a potential price target between $5 and $10, based on historical fractal patterns.
4. Cardano is preparing for the Midnight Upgrade by the end of 2025, which is expected to significantly boost ADA's value, according to founder Charles Hoskinson.
5. The potential approval of ADA ETFs in the U.S., with filings from Grayscale Investment and Tuttle Capital, could further enhance Cardano's market position and price.
Description
On-chain data shows Cardano whales with a balance of at least 100 million coins have accumulated 200M ADA in the last 2 days. The upcoming Midnight Upgrade will boost Cardano’s on-chain activities, and further bolster the bullish outlook. Technical analysis suggests the ADA/USD pair has followed a similar fractal pattern to the 2021 bull cycle. Cardano (ADA) price has gradually signaled a midterm and macro bullish outlook. The large-cap altcoin, with a fully diluted valuation of about $36.9 bill...
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