Cardano (Ada) has recently become one of the most talked about assets in the crypto market. Ada ETF application and powerful technical indicators, attracted the attention of investors. The leading analysts predicted that the price of Cardano could rise up to $ 0.83 and increased optimism in the market. Is this rise really possible?
Can Cardano reach $ 0.83? Analysts are hopeful
Famous crypto analyst Ali Martinez said Cardano could start a rise movement towards $ 0.83. Martinez, in his share of social media account, Cardano’nun as long as he maintains the rising momentum, he said he could achieve this goal.
Similarly, Analyst Sebastian made a positive prediction for Cardano. Sebastian predicted that if the island price exceeded $ 0.80, it could rise to $ 0.90. In particular, Grayscale’s repercussion of the island ETF application in the market increased confidence in these estimates.
Can the island price challenge the market drop?
As of now, the island price is trading at $ 0.78. Although it has a 1 %decrease on a daily basis, a 2 %recovery is remarkable in the weekly graph. This price movement challenges the general decline tendency of the market.
After the latest US inflation data, Bitcoin and other subcoins experienced great losses, while the Ada gained a positive momentum with these developments, excited investors. Developments related to ETF were an important factor that increased market confidence in the island.
Super -chain data gives hope for the future of the island
Centimeter data show that Cardano’s market support is strengthened. The market value of the island recovered at only 11 %in one day. This is considered a remarkable development at a time when many other crypto currencies depreciate.
In addition, the wallets that hold 1 million token or more islands have been purchased regularly since November 2023. In this process, a total of 1.41 billion islands accumulated and this coincide with 2.35 %of the total supply. Such large purchases show that Cardano has more potential to rise in the future.
Will the rise for Cardano continue?
Latest ETF developments and over -chain data point to Cardano’s potential for more rise.
According to analysts’ estimates, the island can reach $ 0.83 in the short term. However, it is of great importance to monitor the market conditions closely in this process.
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