According to the data shown on the Altcoin Season Approaches, the near-term future of Cardano (ADA) is bright, and the price is likely to rebound to the low $1.30s, where it was trading in December. Is this the beginning of a new pump that might make ADA $7.80? ADA has gained more than $0.25, or 30%, since the beginning of the year and was last trading at $1.10.
As a result of the pump, the Cardano price has reclaimed control of the market by breaking north of a downtrend that has been in effect since early December and by returning above its 21 and 50 DMAs. The Cardano price has formed a range in the $1.056-$1.118 area, and the ADA surge has stopped over the last three days.
Bitcoin Tops $100K as Trump Backs Crypto
However, with Bitcoin’s (BTC) recent breakout above $100,000 and what appears to be solid momentum, the overall Crypto market sentiment is expected to stay bullish leading up to the inauguration of the Trump administration in two weeks.nFollowing the anti-crypto posture of the previous Biden government, the Trump administration has taken a completely different approach, becoming the most crypto-friendly administration in history.
Crypto Rally Ahead of New Congress
That, along with the beginning of a new crypto-friendly congressional session, suggests that the cryptocurrency markets are about to experience a golden period. It is possible that Trump’s inauguration was a “sell-the-news” event. However, it is still two weeks away; therefore, it’s highly probable that the Cardano price and altcoin markets will continue their ascent in the coming sessions.
Bitcoin Bull Run Accelerates
There appears to be a lot of space for this crypto bull market to continue. First, Bitcoin has just entered the last and most explosive part of its four-year cycle, which usually lasts between six and eighteen months after the halving (which occurred in April of last year).
With the potential creation of a US strategic Bitcoin reserve this year and institutions’ fast-increasing adoption of Bitcoin, the largest cryptocurrency will flow in 2025. On the other hand, Cardano may reap significant benefits because the altcoin season has not yet begun this cycle.
Altcoin Season Nears Cardano Rises
Recently, after falling below a long-term uptrend, Bitcoin’s Altcoin Season Approaches indicates it is beginning to break down. A comparable breakout in 2021 laid the stage for a huge altcoin season when assets like Cardano posted enormous gains as part of the bull cycle.
If a new altcoin season is about to begin, Cardano’s many tales could propel it to new heights. ADA will change its focus in May to become a Bitcoin DeFi chain. The future chair may reconsider the outgoing anti-crypto SEC Chairman Gary Gensler’s stance that ADA is an unregistered security. In addition, Cardano’s founder and largest supporter, Charles Hoskinson, may become an adviser to the new Trump administration, which would increase Cardano’s acceptance in the United States.
FAQs
Could ADA reach $7.80 in the future?
While ADA is showing bullish momentum, predicting a price of $7.80 is speculative. However, with the current market sentiment and its recent price gains, Cardano may continue its upward trajectory.
What factors are driving Cardano's recent price surge?
Cardano's price has surged due to its breakout from a downtrend, reclaiming its position above key moving averages. Additionally, the overall positive crypto market sentiment, driven by Bitcoin's momentum, is contributing to ADA's growth.
How does Bitcoin's performance impact Cardano's price?
Bitcoin’s breakout above $100,000 and its position in the final phase of its four-year cycle have sparked a bullish sentiment across the entire crypto market, including altcoins like Cardano.
What is the significance of the upcoming altcoin season for Cardano?
The upcoming altcoin season could provide Cardano with significant growth opportunities. As Bitcoin's dominance potentially weakens, altcoins like Cardano are expected to experience a surge in demand and price.
