Cardano (ADA) Price Alert: Analyst Predicts 60% Rally In Next 7 Days

Christian Encila

1 year ago

3 mins read

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Optimism surrounds Cardano (ADA) despite some recent hiccups. ADA stands resilient, maintaining a positive outlook despite a 5% decrease over the past week. Currently priced at $0.75, ADA demonstrates a robust stance with a 24-hour trading volume of $1.14 billion and a market capitalization of $24 billion.

Analyst Points To Promising Weekly Chart Trends

Renowned crypto analyst Sssebi is charting an optimistic course for ADA, emphasizing the significance of the weekly chart in understanding the broader context.

Nestled above its 200-week moving average, ADA shows promise with significant green candles on the weekly charts and a noticeable uptick in buying momentum, signaling a strong underlying trend.

Source: Coingecko

ADA Primed For A Smooth Ascent

Sssebi’s analysis suggests a bright week ahead for ADA, predicting a potential surge of 50-60%. Notably, he points out the absence of major resistance levels until ADA hits $1.2, indicating a relatively smooth path for the cryptocurrency in the immediate future.

This projection aligns with the analyst’s positive assessment of ADA’s present positioning and the overall market sentiment.

If you are ever concerned about $ADA, just look at the weekly chart.
Above 200 Week Moving Average with some huge weekly green candles and huge buying pressure.
Next week will be huge for $ADA, there is not much resistance until $1.2, we could see a 50-60% increase next week. https://t.co/Z6pdH37wWe pic.twitter.com/anlV5YqWl4

— Sssebi🦁 (@Av_Sebastian) March 10, 2024

Will Cardano Hit $3 By May?

After looking at ADA’s performance in the past, Sssebi notices similarities to past market cycles, namely the one in which ADA saw a substantial decline of almost 35%.

Nevertheless, ADA not only bounced back from a significant pullback, but it also exceeded its prior ATH. The analyst projects significant increase in the following months, and based on this historical viewpoint, ADA might reach a price of $3 by May or approximately.

Ether market cap currently at $483 billion. Chart: TradingView.com

Technical Resilience, Foundation Building: ADA’s Strength Unveiled

Beyond the short-term predictions, ADA is described as constructing a robust foundation for future growth. The cryptocurrency showcases resilience by navigating between substantial support and resistance levels.

Notably, at the $0.58 mark, ADA finds reliable support with the 50-day moving average acting as a safety net during retracements. This technical analysis underlines the structural strength of ADA, setting the stage for a potential surge.

ADA Navigates Towards The Coveted $1 Mark

Despite recent fluctuations, ADA maintains a positive trajectory, hinting at an upcoming bullish trend that could propel it toward the coveted $1 mark.

The market analysis reflects a cryptocurrency in transition, oscillating between support and resistance levels, creating a favorable environment for a potential surge in the near future.

Featured image from Igor Mashkov/Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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