Cardano (ADA) might be poised for unprecedented growth, following the reappearance of a previous trend that saw ADA spike tremendously to attain a remarkable price-high level.
According to a tweet shared on his official X handle, Tyler Strejilevich, a Youtuber and crypto analyst, revealed to his teeming followers how ADA spiked by about 6,000% following the appearance of a bullish weekly cross in June 2020.
#ADA is about to get a bullish weekly cross for the first time since JUNE 2020
— Tyler Strejilevich (@TylerSCrypto) December 9, 2023
The last time this happened it pumped 6,000% over the next 66 weeks#cardano pic.twitter.com/xQvvbf3b1O
Read Also: Analyst Says Cardano (ADA) Bull Run Is Coming
Tyler Explains What Could Play Out If Previous Trend Repeats
Per Tyler, ADA’s price chart indicates that the token will attain significantly higher prices. Showing his optimism about the digital asset’s potential price trajectory, the crypto expert described the impending appearance of the weekly cross as “Big.”
It is worth noting that the last time the weekly cross appeared on ADA’s price chart, the rally that accompanied it lasted for over a year. It is left to see how events unfold should the trend reappear, as envisaged by Tyler.
For context, ADA is changing hands at $0.55, implying that a surge of 6,000% will increase the coin’s price to about $33.55, which is far beyond its price all-time high of $3.09.
Cardano (ADA) Breaks Resistance Level To Attain New Heights
Per a recently published news article, ADA has successfully broken above resistance levels. Notably, the token achieved a new price peak in June 2022 after clinching a $0.63 price mark.
ADA’s price increase was accompanied by a significant surge in social and trading volumes, as crypto enthusiasts now appear to look up to the digital asset as an investment option.
Amid the buzz about ADA’s recent run of form, questions about the token maintaining its current momentum have emerged, which are left unanswered. However, the possibility of a corrective dip playing out remains a likelihood.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Cardano Creator Calls Out SEC To Distinguish between BTC, ETH, and ADA, XRP Community Reacts
Cardano’s Current Market Statistics – Market Enthusiasts Expectation
Cardano (ADA) is currently ranked the 9th largest cryptocurrency by market capitalization. The digital asset boasts a market cap of $19,405,222,142 and a trading volume of $1,225,980,337.
In the past seven days, the token recorded a significant increase of about 35%, with maximum and minimum prices of $0.631526 and $0.397228, respectively.
For Cardano (ADA) holders, the token’s current standings have reignited new rays of hope and excitement. They hope that ADA maintains its momentum even as the bull market appears to be setting in soon.
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