Cardano (ADA) is on the rise and is just above $ 0.80 at the time of writing, after an increase of almost 15% in a week. While major crypto coins such as Bitcoin (BTC) and XRP suffer losses, Ada continues to increase in value. Analysts are optimistic and predict that the currency can rise even further.
Short and long term optimism
According to crypto analyst Cryptobull_360, the future looks bright for Cardano (ADA), both in the short and long term. He expects that the price will soon be able to reach $ 1, an increase of approximately 25%, based on various technical signals.
First of all, he points to a possible retest of the outbreak zone of a ‘Broadening Wedge’ pattern on the 4-hour graph. This pattern, in which the price lines diverge (fan out), indicates increasing volatility and often precedes an outbreak. In this case, Cryptobull predicts a continuation of the upward trend.
The outlook is not only positive in the short term; Analysts also expect strong growth potential for the long term. Slumdoge Millionaire, a popular analyst, predicts that by the end of 2025 Cardano may possibly reach $ 10, which amounts to an impressive increase of 1,150% compared to the current course. This would bring the market capitalization of Cardano to a level that is comparable to that of Ethereum (ETH).
ETF rumors
The recent rise in ADA seems to be fueled by speculation about a possible spot Exchange Traded Fund (ETF) in the United States. According to Bloomberg there is a 60% chance that the American Securities and Exchange Commission (SEC) will give green light for a cardano ETF in 2025. The first exciting milestone is March 27. Then the SEC decides on the request from Grayscale, a major player in asset management.
If the ETF is approved, this can open the doors for large institutional investors to get into the digital currency. This would not only increase trust in ADA, but also ensure a substantial purchasing pressure. This development can push the course considerably.
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Source: https://newsbit.nl/analisten-doen-opvallende-cardano-voorspellingen-na-prijsdoorbraak/
