Cardano (ADA) Could Hit $10 This Cycle, Says Analyst

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Portalcripto2024/12/03 08:22

By:By Editor

ADA breaks $1,24 and targets $10
Trump’s pro-crypto outlook boosts ADA
Cardano aims to be a leader in DeFi

Following Donald Trump’s victory, several cryptocurrencies have gained prominence, including Cardano (ADA). While Bitcoin remains close to the $96 mark, the cryptocurrency ADA has surpassed important milestones, reaching a new high of more than two and a half years, surpassing $1,24. This advance comes at a time when investors and industry enthusiasts are increasingly optimistic, projecting that the value of ADA could reach $10 in this market cycle.

It is worth noting that Cardano’s highest price was recorded in 2021, at $3,09; currently, the cryptocurrency is only 60% below its all-time high (ATH). Renowned cryptocurrency YouTuber Lark Davis recently spoke out about ADA’s potential for appreciation. “Cardano is getting the attention and hype it needs to reach $10 this cycle,” he said in a video, reinforcing the positive sentiment surrounding the cryptocurrency.

BREAKING: Lark Davis says " #Cardano 's getting the attention and the hype, we could see $10.00 $ ISLANDS ." pic.twitter.com/oOpCx0DuI6

— Angry Crypto Show (@angrycryptoshow) November 29, 2024

Cardano (ADA) Price Analysis

ADA is currently facing significant resistance at the $1,25 mark, which is the same as the March 2022 highs. The next major resistance is positioned near the $1,60 price zone. Breaking this level could pave the way for a quick climb to previous all-time highs above $3,00. At the time of publication, Cardano’s price is trading at $1,21, up 6% in the last 24 hours.

Cardano Chart

chart by CryptoCompare

ADA’s impressive performance comes as Cardano seeks to establish itself as the leading DeFi (decentralized finance) platform, an alternative to Bitcoin. With this potential, there are rumors that Charles Hopkinson, the founder of the Cardano blockchain, could play a key role in shaping cryptocurrency policy during Trump’s upcoming term.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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