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Crypto Potato 2025-02-06 09:45:44

Here’s Why Cardano (ADA) Could Experience a ‘Monster Parabolic Rally’ (Analyst)

Here’s Why Cardano (ADA) Could Experience a ‘Monster Parabolic Rally’ (Analyst)

TL;DR Analysts suggest Cardano (ADA) could be at the start of a major resurgence, with predictions of a potential surge to double-digit territory, citing strong fundamentals and past bull cycle performance. On the other hand, large investors recently dumped over 330 million ADA tokens, increasing market supply and potentially triggering further price declines in the short term. $15 Per Coin? Cardano’s ADA was among the top-performing cryptocurrencies toward the end of 2024, with its price rising to an almost three-year high of approximately $1.30. Since then, though, it has lost some steam, and its valuation briefly tanked to as low as $0.60 during the crypto crash on February 3. The bulls managed to reclaim some of the lost ground in the following days, and ADA currently trades at around $0.75 (a 30% decline on a monthly scale). ADA Price, Source: CoinGecko Despite the recent downtrend, popular industry participants believe the asset remains poised for a massive surge. X user Ali Martinez reminded that ADA’s price exploded from less than $0.1 to over $3 during the previous bull cycle in mid-2021. He assumed that the token could be “at the very beginning of a monster parabolic rally,” and if history repeats, the valuation could skyrocket to $15 in the near future. CryptoRus supported the thesis, suggesting that ADA “ is looking like it could be primed to pump.” Lucky told their over two million followers on X that “strong fundamentals and rising adoption make Cardano a solid bet before the next big move.” “The ecosystem keeps growing, reinforcing its market position,” the analyst added. The Bears Might Continue to Prevail Despite the optimism from multiple market observers, some important factors suggest that ADA bulls might experience more pain in the short term. As CryptoPotato reported earlier this week, whales have offloaded more than 330 million tokens (worth almost $250 million at the time). A significant sell-off by large investors triggers a surplus of supply into the market, potentially exceeding demand and driving prices lower . Moreover, the actions of these whales could spark panic among smaller traders, further intensifying the downward pressure on the asset’s value. Conversely, when large investors accumulate a substantial amount of ADA, it can have the opposite impact. As reported by CryptoPotato , whales bought over 130 million tokens in late November when the price was around $1. Shortly after, ADA surged to its local peak of $1.30. The post Here’s Why Cardano (ADA) Could Experience a ‘Monster Parabolic Rally’ (Analyst) appeared first on CryptoPotato .

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