Market Watcher STEPH IS CRYPTO Predicts That Cardano (ADA) Could Surge to $1.6 This Year

ADA, the native token of the Cardano ecosystem, has witnessed a slight increase in the ongoing relief rally across the broader market.

Famous market watcher “STEPH IS CRYPTO” has predicted that the price of Cardano (ADA) could reach an unprecedented level of $1.60 before the end of 2024.

This prediction comes amid the ongoing market recovery, which has seen ADA rally by 3.29% over the past 24 hours and record a weekly gain of 1.87%. However, ADA is still down by 21.91% over the past 30 days, with a significant portion of this decline being witnessed on August 5, 2024, when ADA’s price tanked to $0.2799.

Notably, STEPH IS CRYPTO also set price targets for other cryptocurrencies, including Bitcoin (BTC), XRP (XRP), JasmyCoin (JASMY), Internet Computer (ICP), and Algorand (ALGO). According to their predictions, BTC, XRP, JASMY, ICP, and ALGO are expected to hit $100,000, $2.50, $0.30, $50, and $0.50 by year-end, respectively.

While STEPH did not specify any potential catalysts that could drive a 365% surge in ADA’s price to $1.60, their prediction aligns with the broader positive sentiment in the market. Many experts have expressed confidence in an imminent rally for major assets like ADA, BTC, and XRP, among others.

Interestingly, other experts have also made similar predictions for Cardano. Earlier this year, popular Cardano bull Dan Gambardello envisioned a breakout that could propel ADA’s price to $1.5.

In the meantime, there are indications that ADA could witness positive updates, including a spot-based ETF, which could potentially pave the way for a major rally. As reported in May, Ripple CEO Brad Garlinghouse speculated that the SEC will approve multiple ETFs for different altcoins, such as ADA, SOL, and XRP.

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