Can Cardano Price Reach $2 Before 2025?

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As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed countless bull and bear cycles that have shaped my perspective on market trends. The recent surge in Cardano’s price has caught my attention, as it mirrors the broader crypto market’s positive momentum.

Over the recent weeks, the price of Cardano has significantly increased, following the overall optimistic trend in the cryptocurrency market. This growth is largely due to Bitcoin‘s surge, which has ignited more investor attention. Analysts are now keeping a close eye on ADA‘s upward trend, as some predict it could reach $2 by December.

In this article from CoinGape, we’ll delve into whether the price of Cardano is strong enough to sustain its upward trajectory or if investors might choose to cash out, potentially causing a downward shift instead.

Will Cardano Price Hit $2 in December?

The cost of Cardano has risen significantly, propelled by the broader surge in the cryptocurrency market as Bitcoin reaches $100K, mainly due to the recent U.S. election outcomes. This rise in Bitcoin’s worth has sparked a chain reaction among leading altcoins, with Ethereum holding steady above $3,800.

There’s a noticeable surge in cryptocurrencies like Solana, BNB, and other altcoins, which is increasing investor enthusiasm. Given the present trend, experts predict that Cardano might reach $2 by the end of this month as the overall market confidence grows stronger.

According to Analyst Ali’s analysis, the price of Cardano is expected to increase (bullish trend) due to its formation of an ascending triangle on a 4-hour chart. This pattern indicates a possible breakout that could potentially reach around $1.50, providing traders with a significant opportunity for approximately 30% profit.

The ascending triangle’s minimum target aligns with the projected price objective of $1.50. 

If bullish forces continue to build up, it’s possible that the price of ADA may increase, especially around the levels of $1.15 and $1.05. With Cardano showing positive trends, this setup could potentially yield substantial profits for investors who get in before the breakout.

If Bitcoin maintains its value above $100K and stabilizes, it may create a favorable environment for Cardano and other alternative cryptocurrencies to surge. Previous analysis suggests that when Bitcoin exhibits a steady range in value, the likelihood of an “alt season” increases. In this situation, Cardano (ADA) could potentially experience a 33% growth from its current price of $1.50, reaching the psychologically significant level of $2.

Cardano Price Forecast: Is ADA Set to Break $1.30 This Week?

Over the last day, the price of ADA has significantly jumped by around 23%, currently standing at about $1.23. This digital currency has been on an upward trend, demonstrating a striking 272% growth over the past month. At its peak, ADA reached $1.29.

Currently, the altcoin is attempting to surmount a substantial resistance at $1.30, as robust bullish indications hint at a potential breach. This upward trend gains credence from the Moving Average Convergence Divergence (MACD) graph, demonstrating a favorable crossover on the daily chart. The MACD line (blue) is now above the signal line (orange), implying intensified buying pressure. Moreover, the MACD histogram has shifted to green, implying that the bullish force is gaining traction.

On the 4-hour chart, the Moving Average Convergence Divergence (MACD) displays diminishing bars beneath the zero line, suggesting a decrease in bearish energy. If this positive trajectory persists, Cardano (ADA) may see further growth as it overcomes the $1.30 resistance threshold.

In summary, the outlook for Cardano’s price looks positive, as significant technical signs point towards continued growth. Should the bullish trend persist, it is possible that ADA could surpass $1.30 and potentially reach as high as $2 by the year 2025.

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2024-12-05 18:32