A closely followed crypto analyst says that smart contract platform Cardano (ADA) could see massive gains in the coming weeks.
In a new strategy session, crypto trader Ali Martinez tells his 107,500 followers on the social media platform X that if the Ethereum (ETH) rival continues following the same pattern it did last cycle, it could surge by a staggering 266%.
“ADA is shaping up like it did last cycle, making me think a big move is near. A push to $4 might happen within a few weeks!
ADA is trading for $1.09 at time of writing, a 13.5% gain during the last 24 hours.
Moving on to the top crypto asset by market cap, Martinez identifies how Bitcoin (BTC) could confirm its next breakout.
“BTC remains at a critical point. This might just be a retest of the 50-day MA (moving average) before a potential move lower. A sustained close above the 50-day MA is essential to signal the end of the correction and confirm bullish momentum.”
The flagship digital asset is trading for $98,625 at time of writing, a 1.7% increase on the day.
Concluding his analysis by using the Tom Demark (TD) Sequential indicator – which is used by traders to identify potential points of reversal for an asset’s price – Martinez says the technical analysis tool is presenting a bullish signal for the privacy-focused project Worldcoin (WLD) and the modular blockchain Celestia (TIA).
Source: dailyhodl.com
