Can The ADA Price Climb Above $20 In The Bull Market? Analyst Provides Answers

Tags

Top Highlights

• The ADA price has always performed incredibly well in the bull market cycles with price rallies that have put millions of holders in profit in the past.

• it can be hard to pinpoint how high the price will climb in the next bull market. Nevertheless, one crypto analyst is taking the bull by the horns to reveal where they expect the altcoin’s price to reach in the next bull market.

• Could Rise As High As $24

• posted to TradingView, crypto analyst masoud_paydarsani outlines how the ADA price could rise to double-digits. First, the analyst points to Cardano’s ADA token being a long-term upward channel on the weekly time frame, albeit a rather slow uptrend.

• this does not invalidate its bullish tendencies, especially when it comes to ADA repeating its previous bull market cycles.

• Masoud points to the fact that the past crypto market cycles saw approximately 108 weeks of the bear market before 66 weeks of the bull market, and it is within these 66 weeks that ADA shines.

• The analyst believes that if the upward channel is validated, then the next ADA bull run could turn out like the rest. Using the previous performances of the altcoin, eg, the run-up in the year 2021, the ADA price could rise to as high as $24 following the same trend

• this could happen sometime in the next 66 weeks. So it could lead up to 2025 before this rally is complete.

• Lucid’s forecast goes as high as $30. Lucid compares Cardano to the Ethereum network which was able to reach a $500 billion market cap despite going through multiple hurdles. Given this, the analyst believes Cardano will also be able to rise as well while expecting the crypto market cap to cross $10 trillion in a decade.