According to the speculations of cryptocurrency researcher Tyler Strejilevich, Cardano (ADA) may be on the verge of seeing yet another spectacular bullish run. A discovery made by this expert suggests that the token may be just getting started, despite the fact that Cardano has already generated a gain of 132% for its investors since the beginning of the year. As a matter of fact, if Strejilevich is correct, the price of ADA might increase by an astounding 6000% in the next year, going from its current price of $33 to $33.
Tyler Strejilevich, a cryptocurrency analyst, has identified a bullish signal for Cardano.
Through a post on the social media site X, crypto expert Tyler Strejilevich shared the news of his discovery with the Internet. He mentioned in the article that the American Disability Association (ADA) is presently at a crossroads that is comparable to the one it was at in July of 2020.
Strejilevich found that the token is currently at a bullish cross on moving averages on the weekly period, which he discovered through his study of the ADA price chart that he shared with the audience. After the last instance of this happening, ADA went on to form a number of successive bullish candles, which allowed it to go from $0.041 to its current all-time high of $3.09 in a span of 66 weeks.
If this scenario were to play out again, Cardano would hit $33 by January 2025. A projection made by Changelly that is less positive placed the price of one dollar by the end of the year 2025.
Despite the fact that the bullish crossover has not yet taken place, the token still has a few weeks to wait and see how this situation will develop. Given the unpredictable nature of the cryptocurrency market, it is impossible to say with certainty that the price will change in the manner that was anticipated. Cardano, on the other hand, is on the verge of seeing a significant surge that may continue into the next year.
Performance of ADA, which is now bullish
The present bull run that Cardano is experiencing is likely to continue, as seen by network activity, a rise in DeFi TVL, and other variables. It is essential to keep in mind that when Cardano saw its most recent price increase of 6000%, its blockchain network was still lagging behind in terms of the functionality of an intelligent contract. However, since then, the network has undergone a transformation, and Cardano has become one of the blockchains that is expanding at the quickest rate in terms of smart contracts.
In the middle of a bigger cryptocurrency market green week, Cardano is presently trading at $0.5754, representing a 48.43% increase over the course of a week. A momentary encounter with the $0.6 threshold occurred on December 9, when the cryptocurrency reached $0.6323 for the very first time in 2018. At the moment, it has established a modest support at $0.53, and it is now on its path to returning to $0.6.
While Bitcoin inflows have slowed down, the entire market capitalization of cryptocurrencies has decreased by 5.75 percent over the course of the last twenty-four hours. Since Friday, Bitcoin miners have sold around 1,000 BTC, which is equivalent to $44 million, as indicated by a graphic that was provided by a cryptocurrency expert. The value of Bitcoin has decreased by 0.5% over the course of the last twenty-four hours and has dropped by 6% from its all-time high of $44,500.
