In recent days, the ADA cryptocurrency has shown notable growth, attracting the attention of analysts and traders. It is expected that the price might significantly increase thanks to favorable technical patterns and political changes.
New Growth Wave in the Crypto Market?
The cryptocurrency market has shown active growth in the past few hours, with some leading digital assets reaching new levels. For instance, Bitcoin (BTC) reached a new all-time high of over $109,000 earlier today (January 20). Cardano's ADA also reported strong performance in the past few days, though it did not reach a new peak. According to CoinGecko, its price has risen by over 15% on a weekly scale.
Potential Success in the Coming Months?
The steps taken by the United States, including the upcoming presidential elections, were positively received by the cryptocurrency community. Last year, Cardano's founder, Charles Hoskinson, expressed intentions to work with Trump's cabinet to create a favorable regulatory environment for the crypto industry. Cardano's ecosystem is also set for significant changes this year, such as improvements through the Hydra scaling solution, which could positively impact the token's price.
Experts' Predictions
Several experts have shared their views on the future of ADA's pricing. Veteran trader Peter Brandt expects the near future for ADA to show massive growth within a "grand bull market" for altcoins. X user Ssebi highlights technical analysis, indicating that the price touched and bounced off the 20-day moving average. Dan Gambardello claims that ADA's price could rise to $7, while Altcoin Daily predicts a valuation of $6.45 by 2025.
Therefore, ADA is currently one of the promising digital assets, with hopes pinned not only on technical factors but also on favorable political conditions. Expected changes in the Cardano ecosystem are also contributing factors to the token's potential price growth.
