Analyst Reveals: Cardano (ADA) May Repeat History and Welcome a Major Breakthrough
Cardano (ADA), the ninth largest cryptocurrency by market cap, has recently been on a hot price trend. Cryptocurrency analyst Ali discovered that ADA's price movement is almost identical to previous cycles.
Ali mentioned that back in 2020, at the start of the bull market, there was a significant adjustment that resembles the situation we are facing now. If history repeats itself, ADA's price could potentially rise to $6!
Data shows that on Sunday, ADA dropped by 4%, currently priced at $0.8825, with cryptocurrency liquidations reaching $246 million in just one day. This week, ADA has also fallen by 19%.
However, after four consecutive days of decline, ADA began to rebound on Friday from a low of $0.762. After surging to $0.997 on Saturday, it fell back to $0.869 on Sunday.
The bulls are now trying hard to hold this key price level. If they fail to maintain it, ADA may continue to drop to $0.76, or even $0.69, or $0.5. But if the rebound is successful, it might break through the $1 mark!
Additionally, there is some good news: Cardano's Plomin hard fork update is also on the way.
According to Intersect, the membership organization of the Cardano ecosystem, the governance action for the mainnet hard fork has already been submitted on-chain, just waiting for ICC and SPO approval.
This Plomin upgrade will fully unlock Cardano's on-chain governance features, marking a new beginning for on-chain governance. If implemented, the comprehensive governance mentioned in CIP-1694 can enter the mainnet, and the technical guidance phase will come to an end.
As for the upcoming layout direction, I will lead everyone to target the lucrative opportunities in altcoins, especially those projects with high potential, with expected gains of over 10 times being quite feasible. If you want to make big money in the bull market, like and comment, and I will guide you through the entire bull market!
