According to crypto analyst Trend Rider, Cardano (ADA) appears poised for a significant price rally in the near future. In a recent tweet, Trend Rider noted that his favorite long-term indicator, the money flow oscillator, has turned bullish on ADA for the first time since 2020.
Back then, ADA was trading at just $0.03 per token. Using the same indicator, Trend Rider successfully predicted bitcoin’s bull run over the past year. Given this track record, the analyst believes ADA could be in store for similarly explosive growth in the months ahead.
Other Analysts Echo Prediction
Trend Rider is not alone in forecasting a Cardano breakout. Just yesterday, other analysts also tweeted that they expect major upside for ADA soon.
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Show more +Specifically, analyst Ali predicts that after breaching resistance at $0.60, ADA’s price could spike towards $0.80 initially. It may then retrace back to $0.60, before embarking on a more sustained bull run towards $8 by January 2025.
If ADA does manage to reach this target, it would represent a massive rally from current levels around $0.40. With multiple experts now calling for substantial gains, Cardano is emerging as one of the most promising altcoins to watch in the year ahead.
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