Cardano’s (ADA) price has been somewhat stagnant entering 2024. The asset has rallied by 2.4% in the weekly charts but is down by more than 4% over the previous month. However, ADA is still up by over 25% since January 2023.
Also Read: Cardano: When Will ADA Reclaim Its All-Time High of $3.09?
Despite the lackluster performance, Cardano’s (ADA) price may witness a rally soon. According to cryptocurrency analyst Ali Charts, ADA mirrors its late-2020 price movements. The analyst anticipates ADA to remain in a consolidation phase till April 2024. However, the asset may set the stage for its next bull rally.
Also Read: Cardano Price Predictions: When Could ADA Reach $3, $7.03, and $10.40?
According to Ali Charts, ADA could hit a high of $8 by January 2025, about a year from now. Hitting $8 from current price levels would translate to a growth of about 1500%. Reaching $8 would also be a new all-time high for ADA.
How high can Cardano (ADA) go in 2024?
Crypto analysis firm Changelly does not anticipate ADA’s price to rally much in 2024. According to the platform, the asset may reach a high of $0.55 in February. However, the platform expects ADA’s price to dwindle after peaking in February. Moreover, Changelly does not expect ADA to reclaim its all-time high before April 2028, more than four years from now.
Also Read: Cardano: Can ADA Rally Over 100% and Reach $1 By Q2 2024?
Telegaon, on the other hand, is more bullish on Cardano (ADA). The platform predicts a maximum price of $2.15 in 2024. Reaching $2.15 from current levels would translate to a growth of about 330%. Moreover, Telegaon predicts ADA will reclaim its all-time high sometime next year.
Cardano (ADA) is one of the most developmentally active cryptocurrency projects. Moreover, the asset has a solid foundation, making it a safe bet for future growth. If we enter a bull run later this year, we may see ADA climb to new highs much sooner than anticipated.