Big Cardano Price Predictions As ADA Rises 17% To 3-Year High

TL:DR;

Cardano’s native token has become one of today’s best performers, rising to $1.3 to mark a multi-year high. The community quickly picked up on the move and outlined some massive predictions of up to $6. ADAUSD. Source: TradingView ADA Bull Rally

ADA was around $0.32 on November 5, the day of the US election, and was relatively sluggish at first, although the rest of the market was posting impressive gains after the decisive Trump’s victory.

However, his own rally began that weekend when IOG founder Charles Hoskinson said he will spend a lot of time in 2025 working alongside the Trump administration to establish a more supportive and comprehensive crypto policy in the States

Cardano’s token exploded to over $0.6 at the time, but more promising hints from Hoskinson sent it further north. ADA came close to $1 and after a few rejections managed to break above that level.

Its rally stalled for a few days, but bulls are back on top as they pushed ADA to just over $1.3 today, up 20% at one point. This became the highest price for the asset since mid-January 2022.

As a result, ADA has overtaken USDC and is now the eighth largest cryptocurrency by market capitalization as the metric surpasses $45 billion.

ADA at $6?

ADA’s breakout led many analysts to speculate on its future price growth. Some of the more modest predictions indicated that the asset could rise to $1.50 next, which seems achievable even in the short-term, given recent price developments in the market.

Popular analyst Ali also outlined the same target after ADA’s price surge above $1.25, invalidating an earlier forecast of a 20% correction.

Invalidated! $ADA the next goes to $1.50. https://t.co/OhJXrA2MSM

— Ali (@ali_charts) December 2, 2024

While $1.5 seems very plausible at the moment, others stated that the ADA could reach $6 during this cycle. The AllInCrypto analyst based this prediction on the behavior of ADA during the bull runs of 2017 and 2021. It is worth noting that this price would put Cardano’s market cap at more than $210 billion. In today’s environment, this seems a bit over the top, as this would make ADA the third largest digital asset.

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