đBullish #Cardano Metric Predicts 75% Rally to $1
đAnalyst has alerted the Cardano (ADA) community to a key indicator that could boost the price. According to his analysis, the crypto asset might rally to $1.
đCardano Price Could Rise 75% Soon
đAn X (previously Twitter) analyst predicted âanother impressive reboundâ for Cardano with its Market Value to Realized Value (MVRV) below -22%. He remarked that ADA's price soared over 75% when the MVRV ratio dropped below -22%. For Cardano to reach $1, it must rally above 75%.
đA crypto analyst suggested Cardano may reach $1. He wrote on X that the crypto currency might reach this price in 1 to 3 months if it can hold $0.44. In a prior X article, he said Cardano's bull run might resume if its price rises above $0.54.
đTrend Rider previously claimed Cardano might reach $3 if history repeats itself. He referenced October 2020, when Cardano dropped to $0.10 and rose to $3. He predicted this may happen again once the crypto coin approaches its âultimate support test.â
đCurrent crypto market cap: $2.261 trillion. TradingView chart
Cardano's support level may be preventing a parabolic price explosion. Alan Santana, a crypto analyst, suggested that ADA could drop to $0.34 to establish support before turning bullish again.
đStill no Cardano season
đCrypto Capital Venture founder Dan Gambardello called Cardano's price âfrustratingâ because it's not âCardano Season.â He believes the crypto asset will âreally do wellâ at its season. The expert warned ADA holders that Cardano's power shift might take months.
đGambardello said Cardano may fall below the âlower 30s,â as crypto prices fell over fears of an Israel-Iran war. The analyst also predicted that ADA and other crypto assets would âbounce like crazyâ after this scare period.