The Cardano price has dropped by more than 5% in the last 24 hours, trading at $0.372 at 7 AM ET.
Yet one analyst thinks the ADA price is poised for an extraordinary bull run that will see it skyrocket 650% by July next year.
Cardano’s price has grown substantially over the past several days, reaching a six-month high only 24 hours ago.
The weekly chart shows that the coin has struggled with several key resistances over the past week, including the ones at $0.39 and $0.40.
Cardano Price Expected To Hit $0.75 In December And $6.50 In 2024
Despite Cardano’s current struggle to reach and climb beyond $0.40, crypto analyst Ali Martinez believes the coin has a bright future.
In a recent analysis, which he posted on X for his 32.8k followers, he wrote that Cardano’s current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash.
He believes that this suggests that ADA could break through the $0.45 resistance in the first week of December and reach $0.75 by the end of the month. That will set it up for a powerful 650% surge overall.
#Cardano‘s current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash!
Looking to trade this setup? Head… pic.twitter.com/u3KzOsZj2F
— Ali (@ali_charts) November 16, 2023
Bitcoin ETF Approval Could Launch BTCETF Sky-High
While the ADA prediction could bring significant gains to Cardano holders, there is a token that could potentially reward its users even more under the right circumstances.
The token in question is Bitcoin ETF (BTCETF), currently holding a presale approaching $1 million raised.
The token intends to reward holders as Bitcoin ETFs are approved.
The project has set up a list of goals involving the approval, each of which will provide the buyers with rewards once it is met, culminating with the approval of one or more Bitcoin exchange-traded funds by the US Securities and Exchange Commission.
While there is no certainty that the SEC will approve the ETFs, many in the crypto industry believe it is only a matter of time before it happens.
The hype and anticipation led to the creation of BTCETF, and given that its presale raised $935.5k as of the time of writing, there are many investors positioning for future gains.
The token’s price right now sits at $0.0054, and those interested in buying it can do so in exchange for ETH, USDT, or purchase it with their credit or debit card.
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