Cardano (ADA) price has remarkable potential along with Bitcoin’s strong rally. With Bitcoin breaking out of its eight-month sideways trend, ADA is expected to rise to $5 in the next 10-18 months.

Key Drivers of Price Increase

On October 29, the ADA price fell by 4.6% to $0.3491 on the London premarket. This decline is associated with Bitcoin approaching the psychological $70,000 mark. Bitcoin’s rise increased the overall market momentum, causing an upward movement of 2.5%. Meme coins were at the forefront in this process.

Analysts' Predictions

Experts say that ADA’s price movement in the near future will be positive. With the announcement of the ADA-BitcoinOS bridge, Cardano can gain an advantage in the DeFi space by opening up to the $1.4 trillion Bitcoin market. This development has a high potential to affect the ADA price upwards.

Crypto analyst PlanC predicts that Bitcoin could rise to the $150,000 to $300,000 range in 10-18 months. According to PlanC, once Bitcoin reaches $80,000, the chances of it falling below $60,000 are extremely slim.

On the other hand, Charles Hoskinson and IOHK emphasize that BitcoinOS is one of the most important opportunities for Cardano to date.

Crypto trader Zach Humphries says Cardano could reach new highs this cycle, pushing $5. If Hoskinson successfully integrates with BitcoinOS, ADA is likely to reach a new all-time high.

Important Technical Levels

While Cardano’s overall price action is generally bearish, aggressive increases can be observed in bull markets. The $0.43 level is monitored as a resistance point, while the Fibonacci retracement level at $0.67 stands as a significant boundary. A drop below $0.3 could negatively impact the market outlook.

Although there is an optimistic expectation for ADA in the long term, the short-term outlook is considered neutral and slightly positive. Changes in market conditions may cause deviations in analyst estimates. Exceeding $0.67 strengthens the upward view, while a drop below $0.3 can be met with caution.

ADA’s Growing Popularity on Social Media

Cardano is also frequently talked about on social media. The increasing rate of discussion of ADA on social media may indicate price increases. If this effect is positive, a positive trend in price may be seen.

In summary, Cardano’s future price movements may largely depend on Bitcoin’s performance. Investors can create their strategies more accurately by closely monitoring technical analysis and market developments.