A crypto analyst and trader says an ADA rally to all-time highs is on the table as Cardano (ADA), the fifth largest altcoin, bounces off a key support area. Cryptocoin. com we are conveying the details…
bullish predictions for popular altcoin ADA from Capo
The crypto strategist, nicknamed Capo, tells his 224,800 Twitter followers that he expects Cardano to ignite a potential 4x surge provided that its Ethereum rival stays above a long-term support level. The analyst uses the following statements:
The previous all-time high is being retested for the second time. As long as it stays above this level, the next stop should be $3 to $4 (the latest all-time high), and if it consolidates above that, we’ll likely see $10.
Cryptocurrency analyst also quoted Bitcoin comments by analyzing the demand exhibited on crypto derivatives exchange FTX. By looking at Bitcoin’s heatmap, which determines the depth of liquidity in the market, Capo says FTX users are willing to “jump” into the leading crypto asset. In the short term, Capo said he expects Bitcoin to rise to $55,000. As for the broader crypto market, Capo said he expects the bull cycle to continue at least until the beginning of the second quarter of 2022, adding:
FTX is now adding even more demand. This is a bullish signal and does not mean that his orders should be followed. I think this bull cycle will last longer than most people expect and 2022 should be bullish at least until April.
