Cardano (ADA) just hit new more than two-and-a-half-year highs above $1.24, as the buyers pile in on growing calls for the ADA price to hit $10 this cycle.
The ADA price is up over 250% since US President-elect Donald Trump’s victory early last month, as traders bet that a shift to pro-crypto policy in the US will benefit Cardano and its ecosystem.
Widely followed crypto YouTuber Lark Davis was recently bullish on the prospect of more gains for ADA.
Cardano is getting the attention and hype required to send it as high as $10 this cycle, he said in a recent video.
Right now, the ADA price is grappling with resistance in the $1.25 area in the form of the March 2022 highs.
But should this break, the door would open for a fast surge back to record highs above $3.0. That would mark a 10x rally from the coin’s pre-Trump victory levels.
The impressive gains come as Cardano pivots to trying to market itself as the DeFi chain for Bitcoin.
There is also a chance that the blockchain’s founder Charles Hopkinson may play an important role in crypto policymaking in the upcoming Trump administration.
That would presumably come as a major boost Cardano and its broader ecosystem.
How Soon Could Cardano Hit $10?
A rally to $10 would mark gains of nearly 10x from current levels. Investors coming from the traditional finance space would be forgiven for assuming it might take years or even decades for an asset to achieve such returns.
Well, this is crypto. And Cardano is an “alt-coin”. And when altcoin markets start moving, they can go a very long way in a very short period of time.
Just look at ADA’s move in the last month – a more than 250% gain in just a few weeks.
In early 2021, it only took ADA just over four months to post gains of over 1,000% to rally from around $0.20 to nearly $2.50.
The major pro-crypto shift anticipated in the US regulatory regime in 2025 has altcoin markets already buzzing, with altcoin season likely already having begun.
Its not out of the question that ADA hits $10 sometime before the middle of 2025.
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The post Strong Buy Indicators as Analyst Predicts Cardano Could Hit $10 This Cycle – How Soon Will It Happen? appeared first on Cryptonews.
