Cardano’s (ADA) price trajectory has interested crypto enthusiasts lately.
Tweets from Lucid and CryptosRus outline compelling factors driving ADA’s rise. These factors include its decentralized nature, capped supply, and potential collaborations.
Analyst Ali’s chart analysis shared by CryptosRus further suggests Cardano may mirror its past performance, with a projected price of $6 by mid-2025.
ADA’s Historical Cycles and Current Trends
Cardano’s price history highlights distinct phases of accumulation, breakout, and rally. During its initial accumulation zone, ADA traded between $0.02 and $0.10 for 672 days.
Following a breakout, the token surged by over 4,000%, reaching an all-time high of $3.085. However, a subsequent bearish retracement saw the price fall by 65.93%, stabilizing between $0.25 and $0.50 for 455 days.
Currently, ADA shows signs of a new recovery phase, echoing its previous cycles. Since breaking out of its recent consolidation range, the token has risen by 75.34%, signaling the early stages of a potential rally.
Cardano’s Path to $6
Ali’s analysis, shared by CryptosRus, indicates that if $ADA replicates its last cycle, it could climb by over 2,263%. This move means it could potentially reach $6.248 by July-September 2025.
This chart suggest that if $ADA follows a similar pattern to last cycle, we could see $6 ADA by July-September 2025This could be a conservative prediction considering Cardano may be working closely with @DOGE soon Chart: ali_charts pic.twitter.com/gX0R6Byx26
— CryptosRus (@CryptosR_Us) November 19, 2024
Key resistance levels include $0.68 (ADA has already surpassed this level, trading at $0.7604 at press time), $3.085, and the projected $6-$6.25 range. Support remains between $0.25 and $0.50, providing a strong base for upward momentum.
Historical patterns suggest institutional and retail interest, with volume spikes accompanying major breakouts. These trends support the possibility of a structured rally reminiscent of Cardano’s previous cycles.
Read also: Elite Analyst Predicts XRP Price Rally Is Far From Over: Prepare For ‘Madness’
Strategic Partnerships and Market Visibility
Lucid’s tweet emphasizes Cardano’s unique attributes, including its decentralized infrastructure, capped supply, and lack of token unlocks. These features enhance ADA’s appeal as a hard-capped commodity.
$ADA is about to go Interstellar!Cardano has a Higher MAV than the entire Top 10 combined$ADA has Zero token Unlocks scheduled for the Rest of TimeCardano is the Most Decentralized chain that Never Shuts down$ADA is a Hard capped Commodity that can't be Destroyed!
— Lucid (@LucidCiC) November 18, 2024
Additionally, A potential collaboration with Dogecoin (DOGE), as mentioned by CryptosRus, could enhance Cardano’s market visibility, attract new investors, and accelerate its price growth. While the $6 target aligns with historical trends, such partnerships could push the token even further.
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The post Cardano (ADA) Price Could Rally to $6: Here’s Why appeared first on CaptainAltcoin.
