Cardano action echoes 2018-2020; What’s next for ADA price?
With the anticipation of the first spot Bitcoin (BTC) exchange-traded fund (ETF) fueling a rally in the cryptocurrency sector, Cardano (ADA) is keeping up with the sentiment, adding over 6% to its price in a single day as it moves to overturn the losses from previous weeks. Furthermore, Cardano is demonstrating a chart pattern eerily similar to its price action in 2018-2020 , which might mean consolidation around its current levels for the time being, according to the observations by crypto industry expert Ali Martinez in an X post shared on January 9. Rally in April? However, as the renowned crypto trading analyst added, the upcoming consolidation would stick around until April, “setting the stage for a potential resumption of the bull run” for the currently eighth-largest asset in the crypto market, as his chart Analysis shows. Cardano price action analysis and prediction. Source: Ali Martinez At the same time, a bullish sign for Cardano is the increased accumulation of lar...