Cardano ready for immense jump of 150% according to analyst

According to some market analysts, Cardano (ADA) is on the eve of a large course jump. After months of lateral movement, the course was broken by an important technical pattern this week. Analysts such as Clifton FX even provide an increase of 100 to 150 percent in the coming weeks. Can the rate again go to 1.60 to 1.75 dollars as early 2024?

Ada strongest riser within Top 100

Cardano broke through the border of 1 dollar for the first time since March. Although the price has since fallen back to $ 0.93 (among other things due to high inflation figures from the United States), the crypto coin is still about 10 percent higher than a day earlier. This makes Cardano the best performing currency within the top 100.

The technical picture seems to be in favor of the bulls, according to Clifton FX a so -called Bull Flag on the three -day graph has broken up, often a sign that a rising trend can continue.

If the current upward movement persists, the next price target is around $ 1.32. That was the highlight of November last year. After that, according to some traders, the road can be open to the 1.63 dollars, a level that was last reached in the summer of 2022.

Search interested for altcoins highest since 2021

In addition to the technical story, the confidence of long -term holders also plays a role. Recent data from Taptools shows that 15 billion ADA has not been moved for more than a year. This may indicate that a large part of the holders is not going to sell quickly.

At the same time, interest in altcoins seems to increase broadly. Search dates from Google show that the term “Altcoin” has reached the highest level since 2021 worldwide. “Cardano” is also searched for much more often, at the highest point in five months.

Finally, the possible introduction of a Cardano Beursfonds in the United States plays in the optimism around the currency. According to analysts from Bloomberg, the chance of approval is now around 90 percent, partly due to positive signals from the American Securities and Exchange Commission (SEC). Such a product could further open the door for more institutional investors in ADA.