- Altcoins show resilience despite ongoing market dump.
- Altcoin Cardano (ADA) repeats the same bull pump pattern of 2020 bull cycle.
- Analyst expects new ATH between $4 and $6 for ADA price this bull cycle.
The crypto market continues to wade through a brutal price dip where over $1.33 billion was lost in long liquidations in under a day. Bitcoin price now hovers in the $97,000 price level while several altcoins fall short of the major breakouts celebrated earlier this week. Analysts remain bullish and give courage to traders to make it through this shakeout.
In detail, popular altcoins like Ethereum and JASMY had celebrated major breakouts that allowed significant rallies. Now, with the latest market liquidation marking what could have been the biggest liquidation so far this year, analysts await a steady price recovery for Bitcoin as well as multiple popular altcoins.
Bitcoin Sets Eyes on Greater ATH Targets
While Bitcoin struggles to take back the $100,000 price range, analysts remain certain that BTC will close this month in a new ATH. In detail $110,000 is expected by the end of December with a greater ATH target for BTC at $125,000 between January and February. One analyst expects $135,000 BTC ATH possibility to also be in play.
Similarly, many altcoins are showing resilience despite the ongoing market dump. While leverage trades led to major losses, spot trading continued to yield bullish pumps. One altcoin showing bullish signals despite the shakeout is Cardano (ADA).
$4 to $6 ATH Target Set as Cardano Repeats Bull Flag
As we can see from the post above, Cardano (ADA) is repeating a highly bullish pattern from 2020 where the price of ADA pumped significantly to hit a new ATH. Thus, the analyst goes on to say that he will accumulate more ADA tokens if ADA price dips below $0.76 and take profits between $4 and $6 as Cardano goes on to set new ATH this bull cycle.
The post $4 – $6 ADA ATH Price Expected as Cardano Price Chart Mirrors Similar Bullish Pattern of 2020 Bull Cycle appeared first on Crypto News Land.
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