Cardano (ADA) may experience a significant surge in value, according to crypto strategist Ali Martinez. After seeing a 50% drop in value over the past month, ADA is now showing signs of a potential parabolic bull run. Martinez points out that a similar pattern occurred in 2020, where Cardano saw a correction followed by a 4,095% bull run. In 2019, the cryptocurrency also experienced a consolidation phase before a vertical rally. Based on his analysis, Martinez predicts that Cardano could appreciate by approximately 2,080% from its current price.
Bitcoin also shows bullish signs
In addition to Cardano, Martinez notes that Bitcoin is also displaying positive signs. He points out the TD Sequential indicator flashing a buy signal on the daily chart for Bitcoin. According to Martinez, this indicator anticipates a rebound in Bitcoin’s value within one to four daily candlesticks. At the time of writing, Bitcoin is trading at $62,750, showing a 6% increase in the past day.
Summary of Key Points:
- Crypto strategist Ali Martinez believes Cardano is ready for a parabolic bull run after experiencing a 50% drop in value over the past month
- A similar pattern occurred in 2020, with Cardano undergoing a correction followed by a 4,095% bull run
- Martinez predicts that Cardano could appreciate by around 2,080% from its current price
- The TD Sequential indicator is flashing a buy signal for Bitcoin, indicating a potential rebound in value
- Bitcoin is currently trading at $62,750, showing a 6% increase in the past day
