It seems that a trend movement that occurred in the past is repeating in Cardano (ADA). With the re-emergence of ADA’s price movement trend, which resulted in an extraordinary price movement in the past, preparations for unprecedented growth in the altcoin may have been completed.
Tyler Strejilevich, a Youtuber and crypto analyst, shared a tweet from his official X account. He shared ADA’s rise of approximately 6,000% after the emergence of a weekly intersection that emerged in June 2020 with the entire crypto world.
The Future of Cardano (ADA) Coin According to the Analyst
Tyler carried out a review on ADA’s price chart. According to the analyst, it is possible for the altcoin to reach significantly higher prices. The crypto expert, showing his optimism about the possible price movement of the crypto asset, considered the weekly intersection “big”, taking into account that it could create a similar excitement to the previously seen situation.
The ADA price chart that emerged after the weekly intersection is still in the minds of cryptocurrency investors, as the following price rally lasted more than a year. If the trend re-emerges as Tyler predicted, where the price could go will continue to be a matter of curiosity and will emerge in the future.
For understanding, ADA is trading at the level of 0.55 dollars. If the price movement experienced in the past is repeated and a 6,000% increase occurs, it could raise the price of the altcoin to approximately 33.55 dollars. This reveals that the prediction made for ADA is far beyond the all-time high price level of 3.09 dollars.
The Future of Cardano (ADA) Coin
As we recently mentioned, the ADA price successfully rose above resistance levels. In particular, the altcoin reached a new period price peak after the decline it experienced after consolidating the price level of 0.63 dollars in June 2022.
Cryptocurrency followers continue to adopt assets as an investment tool day by day. Accordingly, significant increases in social and trading volumes also accompanied ADA’s price increase.
While reasons were sought for ADA’s recent rise, questions arose about how long the altcoin could maintain its rise. The subsequent Bitcoin drop eliminated the need to find answers to the questions and triggered a drop in the altcoin. Now, investors are wondering how deep the drop could be.
