{"id":127229,"date":"2021-06-02T02:33:41","date_gmt":"2021-06-02T02:33:41","guid":{"rendered":"https:\/\/precoinnews.com\/?p=127229"},"modified":"2021-06-02T02:33:41","modified_gmt":"2021-06-02T02:33:41","slug":"crypto-analyst-explains-how-cardano-ada-price-could-get-to-5","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/crypto-analyst-explains-how-cardano-ada-price-could-get-to-5\/","title":{"rendered":"Crypto Analyst Explains How Cardano ($ADA) Price Could Get to $5"},"content":{"rendered":"

Cryptocurrency trader and analyst Micha\u00ebl van de Poppe says he believes the price of Cardano (ADA) has the potential to surge to the $5 mark based on technical analysis. <\/p>\n

The analyst\u2019s words came in a recently published video, first spotted by Daily Hodl, in which he said the price of the fourth-largest cryptocurrency by market capitalization, ADA, could surge to $5 per coin. In the video, after analyzing BTC\u2019s price chart, van de Poppe said Cardano has been continuously making higher lows.<\/p>\n

https:\/\/youtube.com\/watch?v=iePnAg-Zegc%3Ffeature%3Doembed<\/p>\n

He added that if ADA manages to break through its resistance at the $1.8 mark, Cardano could surge to $3.35 based on an analysis of its Fibonacci zones. While the cryptocurrency could keep on ranging in the near future, a breakout is possible. ADA is, at press time, trading at $1.71, according to CryptoComapre data.<\/p>\n

Its support, the analyst said, needs to hold onto its support at around 4,000 satoshis in the ADA\/BTC pair so it can have further upside against the flagship cryptocurrency. Per van de Poppe, Cardano is \u201cone of the strongest altcoins out there.\u201d<\/p>\n

On social media, the popular analyst also looked at several other altcoins, including Tezos, Chainlink, Reserve Rights, and Avalanche. In his analysis, the analyst said that Avalance (AVAX) \u201cgot crushed\u201d compared to other altcoins during the recent market correction, but it has the potential to resume bullish momentum in the AVAX\/BTC pair if it breaks above the 0.00061 BTC area.<\/p>\n

Looking at Chainlink (LINK), the analyst noted that against BTC the cryptocurrency has managed to climb back above crucial moving averages that if it manages to hold could see it rally by over 40% in the near future. Harmony (ONE), he said, is still in a \u201cbullish cycle, as it\u2019s done a beautiful retest\u201d at a support zone it managed to hold.<\/p>\n

Tezos (XTZ), according to the analyst, is at a critical point as it\u2019s crossing its 100-day and 200-day moving averages. If it manages to remain above them it will continue with its bullish momentum.<\/p>\n

DISCLAIMER<\/strong>
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n

IMAGE CREDIT<\/strong>
Featured image via\u00a0Pixabay<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency trader and analyst Micha\u00ebl van de<\/p>\n","protected":false},"author":3,"featured_media":127228,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"yoast_head":"\nCrypto Analyst Explains How Cardano ($ADA) Price Could Get to $5 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/altcoins\/crypto-analyst-explains-how-cardano-ada-price-could-get-to-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst Explains How Cardano ($ADA) Price Could Get to $5 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency trader and analyst Micha\u00ebl van de\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/altcoins\/crypto-analyst-explains-how-cardano-ada-price-could-get-to-5\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-02T02:33:41+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/06\/Crypto-Analyst-Explains-How-Cardano-ADA-Price-Could-Get-to-5.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/altcoins\/crypto-analyst-explains-how-cardano-ada-price-could-get-to-5\/\",\"url\":\"https:\/\/precoinnews.com\/altcoins\/crypto-analyst-explains-how-cardano-ada-price-could-get-to-5\/\",\"name\":\"Crypto Analyst Explains How Cardano ($ADA) Price Could Get to $5 - 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