A closely followed crypto analyst says that smart contract platform Cardano (ADA) could see massive gains in the coming weeks.
In a new strategy session, crypto trader Ali Martinez tells his 107,500 followers on the social media platform X that if the Ethereum (ETH) rival continues following the same pattern it did last cycle, it could surge by a staggering 266%.
“ADA is shaping up like it did last cycle, making me think a big move is near. A push to $4 might happen within a few weeks!
ADA is trading for $1.09 at time of writing, a 13.5% gain during the last 24 hours.
Moving on to the top crypto asset by market cap, Martinez identifies how Bitcoin (BTC) could confirm its next breakout.
“BTC remains at a critical point. This might just be a retest of the 50-day MA (moving average) before a potential move lower. A sustained close above the 50-day MA is essential to signal the end of the correction and confirm bullish momentum.”
The flagship digital asset is trading for $98,625 at time of writing, a 1.7% increase on the day.
Concluding his analysis by using the Tom Demark (TD) Sequential indicator – which is used by traders to identify potential points of reversal for an asset’s price – Martinez says the technical analysis tool is presenting a bullish signal for the privacy-focused project Worldcoin (WLD) and the modular blockchain Celestia (TIA).
WLD and TIA are trading for $2.40 and $5.44 at time of writing, respectively.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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