Cardano ($ ADA) is ready to go at $ 5, says crypto analyst

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Prominent crypto analyst and trader Michalvan de Poppe who believes the Cardanos $ ADA token is the most powerful coin in the market, recently explained how the $ ADA price could reach $ 5 in the near future.

In a video posted to his YouTube channel on August 11, he looked at the recent price action of $ ADA using technical analysis and said this:

What is the target area if Cardano will keep moving? It’s very simple. We are looking at a continuation with the Fibonacci extension The next target areas for Cardano in a new wave of pulses are $ 3.35 and $ 5.00 Is Cardano ready for the $ 5 run? Yes, I think so. I think the market is heating up for another big wave

According to data from TradingView, on the Kraken crypto exchange, the price of ADA, which is currently the third most valuable crypto asset by market cap, hit an intraday high of $ 2.2430 at 09:40 UTC; as you can see, that’s not far from the all-time high of $ 2.4223, which was hit on May 16. Currently (at 5:50 p.m. UTC on August 14), the ADA-USD is trading at $ 2.1724, which is up 7.02% in the last 24 hours.

WARNING

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading crypto-assets carries a risk of financial loss.

IMAGE CREDIT

Imagebyjillianwashere viaPixabay

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