Cardano’s Surge Expected to Reach its Peak in 208 Days, Analyst Predicts

Crypto analyst LuckSide Crypto believes that Cardano’s price may be on the rise after recovering from a recent drop, according to an analysis on January 11th.
LuckSide Crypto points out that Cardano (ADA) reached $0.60 after the release of a video announcing the approval of a spot Bitcoin ETF. Since then, the price of ADA has experienced a double-digit surge, gaining dominance alongside other altcoins against Bitcoin (BTC).
However, the analyst’s prediction that the market is just getting started is based on the larger scale movement of money or capital.
In the past day, the analyst notes that the amount of USDT held on exchanges has increased by 597 million USDT, the highest level in 208 days, with total flows of $6.6 billion. This indicates that capital is preparing to buy.
By comparing the inflows of USDT in the same period, the analyst suggests that people are getting ready for major announcements and consequently preparing to buy crypto. The analyst concludes that the rally for ADA and the rest of the crypto market is just beginning, although corrections are still possible.
In other words, when there is a lot of fuel in the tank, it is unlikely to remain idle.
At the time of writing, the price of Cardano has slightly declined and currently stands at $0.5766, according to CoinMarketCap data. This represents a 14.7% increase in the past day and a 2.1% increase in the past month.
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Analyst predicts that Cardano will trade sideways before making a big move
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