Cardano (ADA) Price Gears Up For 300% Rally In Few Weeks Per This Chart

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As a seasoned crypto investor with over a decade of experience in this volatile market, I can confidently say that the recent rally of Cardano (ADA) is reminiscent of the excitement we witnessed during the 2017 bull run. The technical setup and the parallels drawn by analysts like Ali Martinez to the previous market cycle are compelling reasons to believe in a potential 300% surge towards $4.

Remember, the crypto market is often compared to a rollercoaster ride, but this time it feels more like a rocket ship. The parabolic rise of ADA following Donald Trump’s victory in 2016 serves as a testament to this. If we consider the predictions of a $7 trillion altcoin market cap by 2025, a 300% rally for Cardano might not seem so far-fetched.

The current bullish sentiment is further supported by the surge in daily trading volume and open interest, as well as the increase in liquidations. It’s always exciting to see short sellers get rekt!

However, let’s not forget that in crypto, even a pumpkin can become a pumpking. So, while I am optimistic about ADA reaching $4, I would advise all investors to approach this with caution and always remember to only invest what you are willing to lose.

Lastly, as they say in the world of crypto: “Never invest in anything that can’t replace your toilet paper.” So, if ADA hits $4, you might just be able to buy a roll of the finest crypto-themed TP!

The price of Cardano has surged by an additional 8%, reaching over $1.0 and boosting its weekly gains for ADA to over 16% in total. The technical analysis suggests that this cryptocurrency could potentially experience a massive upswing of around 300% in the upcoming weeks, possibly pushing its value up to approximately $4.

Here’s Why Cardano Price Can Rally to $4

During the ongoing broader market upswing, Cardano is outperforming many of its competitors with an impressive increase alongside other prominent cryptocurrencies. Crypto expert Ali Martinez notes similarities between the current Cardano price trend and its past performance during the market cycle from November 2020 to August 2021, when ADA underwent a significant bull run.

Based on a potential upcoming trend, Martinez predicts that the ADA price might reach as high as $4 within the next few weeks.

After Donald Trump’s election win, the cryptocurrency market experienced a significant surge of approximately 3 times its value within a month, driven by widespread enthusiasm throughout the broader altcoin sector. Market experts predict that the total value of the altcoin market could potentially increase nearly five times by 2025, reaching an impressive $7 trillion. Given this forecast, it’s not hard to imagine a rally of 300% occurring in such a scenario.

Today, ADA’s price climbed by 8.07% and was trading at $1.01. Its market capitalization stands at a substantial $35.63 billion. The daily trading volume has increased by 5%, reaching $1.26 billion, indicating potential for continued growth in the future. According to data from Coinglass, the open interest for ADA has risen by 7% and currently sits at $781 million. In addition, the Cardano price rise has led to a significant increase in liquidations within the last 24 hours, with a total of $2.38 million being liquidated. Among these, short positions accounted for $1.56 million.

Charles Hoskinson Stays Bullish for ADA in 2025

Charles Hoskinson, founder of Cardano (ADA), expressed optimism about its growth prospects in 2025, predicting extraordinary expansion for the network. He believes that a significant factor contributing to this growth could be the potential integration of Bitcoin‘s DeFi through the BitcoinOS network. This move might funnel billions of dollars into the Cardano ecosystem by leveraging Bitcoin’s liquidity and functionality.

Additionally, Hoskinson continues to advocate for increased decentralization within the Cardano blockchain, stating that his primary objective is to eliminate any obstacles for this transition and that nothing will prevent this progress from moving forward. Lately, he has also raised concerns about the Cardano Foundation having too much control over decision-making processes. These changes may positively impact Cardano’s price in the future.

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2025-01-03 09:00