The altcoin market has been buzzing with activity this weekend and Cardano (ADA) is grabbing all the limelight. The Cardano (ADA) price rally has continued all the way to $0.59, extending its weekly gains to more than 50%.
Cardano (ADA) Price Hits 18-Month High
In a recent update, on-chain data provider Santiment reported that Cardano (ADA) has surged to a price peak of $0.633, marking its highest level since June 2022. The cryptocurrency has experienced a significant uptick in trading volume, reaching levels not seen since the mentioned period.
Crowd interest in Cardano has notably intensified, constituting about 4% of all cryptocurrency discussions today. This resurgence in popularity suggests that Cardano, currently holding the 8th position in market cap, has reentered the forefront of crowd consciousness. While FOMO (Fear of Missing Out) levels are reportedly high, Cardano appears to be gaining momentum and making up for lost time in the cryptocurrency market.
Courtesy: Santiment
Cardano has recorded an impressive 59.14% increase in the past week, marking its most substantial weekly gains since August 2021, when it achieved an all-time high of $3.09. The cryptocurrency’s upward momentum, which began in mid-October, continues unabated, positioning Cardano for its eighth consecutive week of gains. Notably, the current week has witnessed a remarkable six consecutive days of positive performance since Sunday.
The recent rally gained momentum, particularly on Friday, as Cardano experienced a significant price surge. In today’s trading, the cryptocurrency sustained its robust upward trajectory, reaching peak levels of $0.6448 before experiencing a slight pullback.
ADA Price Targets
Throughout the week, crypto analyst Ali noted the striking similarity between ADA’s current price movement and its pattern from 2018 to 2020, characterized by consolidation before a significant ascent.
Drawing parallels with the late December 2020 period, during which ADA witnessed a remarkable surge of approximately 2,350%, reaching all-time highs of $3.09 in August 2021, Ali predicts a potential rally for Cardano as it surpasses the $0.45 mark. The forecast anticipates a climb to $0.75 by late December, signaling positive developments for Cardano.
As per the latest report from Challengly, Cardano is most likely to show strong gains in the coming years. Changelly’s bullish Cardano (ADA) price predictions anticipate a minimum of $0.9720 and a maximum of $1.16 by 2025, with an average of $1.01. The positive trend continues into 2026 and 2027, projecting average prices of $1.41 and $1.93, indicating a consistent rise in ADA value.
The years 2028 and 2029 are predicted as breakout years, with average prices of $2.80 and $4.19, potentially surpassing its all-time high. Looking ahead to 2030, Changelly predicts an average price of $6.33, showcasing strong confidence in Cardano’s long-term potential.
