- Altcoin ADA on the verge of a massive breakout.
- Cardano’s ADA eyes $1.6 bull target next.
- Analyst wonder if ADA can set a new ATH this bull cycle.
The price of Bitcoin set its latest ATH at $123,000 after a phenomenal pump from the $112,000 price range. During this pump that occurred in under two days, the price of ETH finally broke past the $3,000 price level, giving altcoins the opportunity to rally alongside it. Several promising altcoins went up around 10% are are now preparing to hit higher highs, including altcoin ADA on the verge of a massive breakout. Cardano eyes $1.6 bull target.
Altcoin ADA on the Verge of a Massive Breakout
With the price of ETH having finally broken past the $3,000 price barrier and with the price of BTC retracing to the $117,000 price level, analysts believe the time has finally come for altcoins to start their pumps. Many analysts are catching soft shifts between altcoins to Bitcoin Dominance. Despite BTC expected to set higher highs int he coming weeks ahead, analysts still expect altcoins to slowly dominate.
The altcoin dominance is expected to be led by Ethereum (ETH). The pioneer altcoin asset, ETH, is expected to lead the charge for altseason. This means that the price of ETH must first reclaim its previous ATH price in the $4,800 price range before pushing past it to set a string of new ATH prices of its own. During this phase, other promising altcoins are expected to follow its lead and hit new highs of their own.
For the moment, some analysts were hoping to see strong green god candles on the ETH price chart. So far, ETH has seen a significant big green candle that led to a strong price breakout. Despite this, one analyst says ETH will steadily take higher price levels until it works its way up to reclaiming its previous ATH price and then hit much higher prices. The next level expected for ETH to reclaim is the $3,300 to $3,600 price range.
Cardano Eyes $1.6 Bull Target Next
As the price of ETH steadily climbs up, the prices of several highly potent altcoins are also showing strong bullish indicators. While some altcoins have already been steadily pumping, others have been signaling bullish signs across their individual price charts. One of the most bullish altcoins for this bull cycle is Cardano’s ADA, and the price of ADA is expected to hit new ATH targets in the altseason peak phase of the ongoing bull cycle.
As we can see from the post above, one analyst says that ADA is on the verge of a bullish breakout. He then goes on to set a bull target for the price of BTC to hit a price above $1.6 where he sets a Green Zone. A few expect ADA to set new ATH targets, but as to how high the price of ADA will go this bull cycle, this remains to be seen. According to CoinMarketCap analytics, the price of ADA currently sits at $0.7227.
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