- Cardano enthusiasts debate ADA potential to hit $10 ATH this bull cycle.
- Analysts see ADA as one of the most bullish altcoins this bull cycle.
- ADA price set to blow past 2 bull targets before hitting the $10 target.
Bullish sentiments are taking over the crypto market as the price of the pioneer altcoin, Ethereum (ETH), finally broke past the highly anticipated boss target $4,800. In fact, the price of ETH went as high as $4,870, taking it close to the previous ATH price target. This led to positive expectations for other promising altcoins, and now Cardano enthusiasts debate ADA potential to hit $10 ATH this bull cycle.
Cardano Enthusiasts Debate ADA Potential to Hit $10
This bull cycle has been a long one for those waiting for the altseason peak phase. So far, the altseason peak phase of every bull cycle has occurred in Q1 following a Bitcoin Halving event. This cycle, however, seems to have experienced a deviation in the pattern. Where altseason should have occurred, the crypto market experienced a brutal correction phase instead, likely triggered by BTC’s early cycle pump.
For the first time ever, the price of BTC went on to set a new ATH price before the Bitcoin Halving event occurred. Then BTC went on to set a string of new ATH prices before a major market correction allowed Ethereum to bottom and settle the crypto market into a much healthier state. Since then, Bitcoin has gone on to set new ATH prices, while altcoins have gone on to surge steadily and claim higher prices.
Amid the ongoing pump, bringing ETH price close to the price discovery range, analysts have begun to grow highly expectant of explosive price pumps to arrive for the crypto market. At the moment, some of the most bullish altcoins include legacy altcoins like Ethereum (ETH), Cardano (ADA), Solana (SOL), Ripple (XRP), Dogecoin (DOGE), Polkadot (DOT), and several others.
Specifically, Cardano and its native token ADA have gained a lot of attention compared to the others mentioned above this bull cycle. This is caused by the blockchain’s incredible accomplishments since the last bull cycle. In detail, Cardano has launched the Midnight Sidechain, making it highly interoperable and private. Its latest upgrades have also made it infinitely scalable and brought Solana-style speed.
Bull Spike From $2.68 to $10 for ADA
All this success in the Cardano ecosystem is yet to reflect on the price of ADA. According to CoinMarketCap analytics, the price of ADA is currently trading at $0.92, showing how the asset is up by over 8.5% in the last 24 hours. The altcoin is also over 69% away from its previous ATH price set at $3.10 and is boasting a total market cap of $33,204,452,640.71 and a 24-hour trading volume of $3,243,876,511.01.
As we can see from the post above, this popular Cardano enthusiast believes the price of ADA is heading to the $10 ATH price. According to the post, if the price of ADA holds above the $1.16 price target, the next bull targets for ADA could be $2.68, $5, and finally $10. The post finishes by stating that with multi-year trendline support and a 1,200% upside, this could be a legendary setup for ADA.