Cardano (ADA) has gained significant momentum over the last few days. The asset has rallied by 5.3% in the daily charts, 14.5% in the weekly charts, 20.6% in the 14-day charts, and over 14% in the previous month. Moreover, ADA’s price is up by 48.5% since February 2023.
Cardano’s (ADA) latest rally could be due to Bitcoin (BTC) breaching the $52k level, last visited in 2021. BTC’s sudden surge could be due to increased inflows into spot BTC ETF (Exchange Traded Fund) products. BTC’s momentum seems to trickle down to other prominent projects, as most other altcoins are in the greens.
Also Read: Ripple XRP vs Cardano: Which Will Reach $1 First?
However, Cardano (ADA) just might be getting started. According to cryptocurrency analyst Ali Charts, an ADA breakout may come earlier than expected. Ali Charts anticipates ADA to hit $0.80 before retracing to $0.60. Reaching $0.80 from current levels would translate to a growth of about 33.3%.
However, it doesn’t end there. Ali Charts anticipates Cardano (ADA) to hit $8 by January 2025. Reaching $8 from current levels would translate to a growth of over 1200%.
Will Cardano hit $8 by January 2025?
While Ali Charts paints a bullish picture for ADA in early 2025, other platforms do not agree. According to Changelly, ADA will reach a maximum price of $0.562 in January 2025. Changelly does not anticipate ADA to breach the $8 mark till at least December 2030, about six years from now.
Also Read: Cardano (ADA) Could Rally 24% and Hit $0.68: Predicts Analyst
Telegaon also paints a similar picture for Cardano (ADA). The platform predicts ADA to hit the $8 mark sometime in 2030. Moreover, the platform predicts ADA to hit a maximum price of $2.15 in 2024. Reaching $2.15 from current levels would translate to a growth of over 250%.