Is ADA Poised for a 70% Rise in the Coming Days?

TL;DR

• Cardano (ADA) is up 4% this week, with one analyst predicting a potential 70% spike due to a bullish trend.
• Indicators suggest that the asset could see further gains, with some pointing to a significant price increase by early 2025.

Is it ADA’s time to shine?

Most major cryptocurrencies have fallen substantially over the past week, while the global market cap has fallen by 3.5% per day, currently sitting at around $2.35 trillion (according to data from CoinGecko). However, some assets are still in the green on a seven-day scale, with Cardano (ADA) being one example. Its price has increased by 4% for this period, while analysts expect much larger gains in the near future.

User X, Captain Faibik claims that ADA’s “falling wedge breakout” has finally been confirmed after a long consolidation, meaning a 70% rally could be on the cards.

The term refers to a certain bullish chart pattern that usually indicates a potential reversal in the price trend. is characterized by two trend lines that converge downward. A breakout usually occurs when the valuation crosses the upper line. This is exactly what happened in early July.

X user XForceGlobal was also bullish. The cryptocurrency educator believes there could be “a massive shift” in the narrative from meme coins to “high-cap dino altcoins” in the coming months. The analyst concluded that this could lead to huge ADA price volatility and a possible price explosion to near $3 in early 2025.

Those who are curious to explore other Cardano predictions, feel free to take a look at our dedicated video below:

ADA is growing

Some important indicators suggest that Cardano’s native token could indeed be poised for a near-term surge.

The Relative Strength Index (RSI), which measures the speed and direction of price movements, has been relatively weak of late, currently standing at age 51. The metric ranges from 0 to 100, with a ratio greater than 70 signaling a possible correction.

On another note, ADA won a place in a prestigious ranking. According to the market intelligence platform Santiment, it is among the top 10 cryptocurrencies in terms of development frequency.