Prominent crypto analyst and trader Michaël van de Poppe, who believes that Cardano’s $ADA token is “strongest coins out there”, recently explains how the $ADA price could hit $5 in the near future.
In a video released on his YouTube channel on August 11, he looked at $ADA’s recent price action using technical analysis, and had this to say:
“What is the target zone if Cardano is going to continue moving? That is very simple. We are looking at a continuation with Fibonacci extension… The next target zones for Cardano in a new impulse wave is $3.35 and $5.00… Is Cardano ready for the run to $5? Yes, I think so. I think the market is heating up for another big wave…“
According to data by TradingView, on crypto exchange Kraken, the price for $ADA, which is at the moment the third most valuable crypto asset by market cap, hit today’s intraday high of $2.2430 at 09:40 UTC; as you can see, this is not far off from the all-time high price of $2.4223, which was reached on May 16. Currently (as of 17:50 UTC on August 14), ADA-USD is trading at $2.1724, i.e. up 7.02% in the past 24-hour period.
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