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.


The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.


Image by “jillianwashere” via Pixabay