Despite the recent setback, supporters Cardano (ADA) are adamant that the cryptocurrency trend is in line with 2020 patterns. For this reason, they are discussing the cryptocurrency’s prospects, predicting a rise to $6 before the bull run ends.
On December 3, ADA hit a yearly high of $1,327, and a subsequent 42% pullback sent the token down to $0,762 in less than three weeks. However, cryptocurrency supporters believe that the bullish momentum is still there, and Altcoyin will repeat the achievements of the last bull cycle.
The 2020 bull cycle marked the most significant gains Cardano: The coin started the year at $0,032 and then surged more than 13% in a sustained rally that lasted more than 000 months. In September 20, ADA traded at $2021, a record high for the altcoin.
Recently, Into The Cryptoverse founder Benjamin Cowen highlighted an important indicator inherent in the 2020 price trend. Specifically, he noticed some consistency in ADA’s risk level that could trigger a significant surge soon. In that environment, ADA has surged 1800% in 2020, and crypto analysts expect a repeat.
Beyond the level of risk, Cowen highlighted technical indicators that are consistent with the bullish trend in ways similar to the previous cycle. Specifically, the token's movements against Bitcoin have formed a similar pattern, boosting investor confidence in a potential rally.
#Cardano #ADA!
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For promising investments in cryptocurrencies in 2024, attention should be paid to the following projects that stand out for their fundamental value, active development, and market dynamics:

1. Ethereum (ETH)
Reasons for investing: Ethereum remains a leader in the field of smart contracts. The anticipated Pectra update in 2025 may reduce gas fees and increase network speed, which will enhance its popularity.