Renowned crypto trader Cardano shares bullish price targets for the smart contract platform (ADA).
In a new video, Sunday analyst Michael van de Popp tells his 115,000 followers on YouTube that he believes Cardano’s rapid growth is not over yet.
The third-largest crypto asset has risen more than 110% in the past 30 days, recently breaking the $ 2.50 level, a key resistance level Ada previously tested in May based on babies.
“The level to look at is anything in this December [$2.00- $ 2.50]. If so, I’m guessing $3.45 and $ 5.00 for Cardano will be next.”
With Bitcoin reaching its unprecedented peak this cycle, Popp predicts that” crazy ” earnings will bring in long-term Cardano owners.
“Bitcoin is approaching $ 250,000 – $ 300,000-that’s pretty normal, which means Cardano can easily go up to$10-20 before going back to that level [about $ 2.50].”
The trader is using the Fibonacci extension to indicate potential short-term price targets as Cardano rises to a new all-time high.
“The next Fibonacci expansion tools, or Fibonacci expansion levels, are [$3.50] and [$5.00] for Cardano in the next impulse wave. This is based on a recent high of [$2.50], a recent low of [$1.02].”
Blockchain analyst company IntoTheBlock shared Cardano’s performance data last year.
“The island has exploded with the previous [record high] resulting from the expected launch of smart contracts
A brief statement of operating results from the beginning of the year [from the beginning of the year]
1.304. 71 price increase%
1.484 million new owners (an increase of 233%)
Addresses in profit up from 80% to 100 %%%
Record number of hodler (226,000)”
Source: IntoTheBlock / Twitter
The ADA’s rise to new record highs followed Cardano’s recent announcement of the expiration of the token, which will be updated after the update, which represents smart contract functionality for the Cardano ecosystem.
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