The key takeaways:
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ADA price confirms bull flag breakout, eyeing 100%–150% upside.
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Since over a month, long-term investors have held a record of 15 billion ADA.
Cardano’s (ADASome analysts expect prices to double within the next few weeks.
ADA enters breakout bull flag stage
According to an analysis of the Cardano three-day chart by, Cardano’s recent price movement has confirmed a breakout bullish from a multimonth pattern bull flag. Clifton Fx.
The price of ADA has now risen above the key resistance. These breakouts usually precede a strong uptrend.
Clifton Fx is currently predicting a. “100-150% massive bullish rally” In the next few weeks. In other words, ADA’s price can grow toward the $1.60–$1.75 range if momentum holds. The last time these levels were seen was during the early gains of 2024.
ADA’s bullish view is reflected in its impressive gains of the past 24 hour, compared to the other top cryptocurrencies. Cardano’s token rose by 20% to $0.99 in that time, which is a new five-month record.
Gains renewed buying interest in the altcoin marketADA has now been added to the watchlist of traders looking for high-percentage movements.
This includes Trader_Jibon who predicts ADA’s price to reclaim its November top at around $1.32 —and mid-2022 high of $1.63 afterward.
As retail interest surges, long-term ADA holder hit a record high.
The bullish forecast for ADA follows on from signs of a growing long-term holder’s (LTH).
The fact that 15 billion ADA remained unchanged for over a year suggests a reduced sales pressure during the “altcoin season” buzz.
The retail market for altcoins is growing.
Google Trends data reveals searches for “altcoin” have climbed to their highest level Since 2021 “Cardano” Interest is at its highest level in five months.
Similar spikes historically have occurred during periods when capital was heavily shifted from Bitcoin into alternative currencies, as in the case of the ICO boom of early 2018 Then, there is the DeFi-NFT surge of 2021.
Related: Price predictions 8/13: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK, HYPE, XLM
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Source: cointelegraph.com
