A closely watched crypto analyst says smart contract platform Cardano (ADA) could post huge gains in the coming weeks.
In a new strategy session, crypto trader Ali Martinez tells Its 107,500 followers on social media platform
“ADA is taking shape like last cycle, which makes me think a big step is near. A push to $4 could happen in a few weeks!
ADA is trading at $1.09 at the time of writing, a gain of 13.5% over the last 24 hours.
Moving on to the most important crypto asset by market cap: Martinez identifies how Bitcoin (BTC) could confirm its next breakout.
“BTC is still at a critical point. This could just be a retest of the 50-day MA (moving average) before a possible decline. A sustained close above the 50-day MA is essential to signal the end of the correction and confirm bullish momentum.”
The key digital asset is trading at $98,625 at the time of writing, up 1.7% on the day.
Concluding his analysis using the Tom Demark (TD) Sequential indicator – which is used by traders to identify potential reversal points for an asset’s price – Martinez says that the technical analysis tool provides a bullish signal for the price of an asset. privacy-oriented project Worldcoin (WLD) and the modular blockchain Celestia (TIA).
WLD and TIA are trading at $2.40 and $5.44 respectively at the time of writing.
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Generated image: Midjourney