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Popular crypto analyst Ali Martinez has gone out on a limb and forecast that Cardano (ADA) is headed to the psychological barrier of $2. His chart reading indicates that ADA’s price action is now revolving around a very important resistance point of $1.14. If the daily candlestick closes above it, it might spark a strong bullish run towards the $2 mark.
Key Resistance at $1.14
In Martinez’s view, $1.14 represents an important resistance that investors and traders will need to keep a close eye on. Crossing over it would be a signal of powerful buying pressure, setting the stage for Cardano to run higher. Historically, ADA has been very receptive to bullish breakouts, which makes this forecast an attractive one for market players.
Trump’s Crypto Endorsement Fuels Optimism
One more reason for optimism surrounding Cardano is the recent announcement by former U.S. President Donald Trump. Trump has suggested including ADA in the U.S. crypto reserve, an action that has created a huge wave of positivity among investors. If put into practice, such a stamp of approval could make Cardano’s adoption and price in the general crypto market jump dramatically.
Is a $2 ADA Realistic?
Though Martinez’s forecast follows the market sentiment, it’s imperative to keep external factors in perspective, including broader market mood, Bitcoin’s action, and macroeconomic environments. The crypto space is still bearish, and ADA’s trajectory to $2 will certainly see resistance and retracements on its path.
Cardano has always been a solid blockchain project with good fundamentals. If Martinez is correct, a break of the $1.14 resistance could be the trigger for a rally to $2. Investors need to remain aware and do their own research before making any investment decisions.
What are your thoughts on Cardano’s potential increase? Let us know in the comments!
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