Can the Cardano (ADA) Price Reach $0.80 in January? This Analyst Thinks so
According to this popular analyst, ADA’s price could soar by 50% in the following weeks.
TL;DR
- Cardano’s ADA experienced an 11% drop recently, but analysts like Captain Faibik see potential for a rally, predicting a rise towards $0.80 by the end of January.
- ADA’s on-chain trading volume has been on the rise, suggesting increased interest that could lead to a potential uptrend in its value.
- External factors, including the possibility of a US Bitcoin ETF approval and the upcoming Bitcoin halving, might positively influence ADA’s price, with some analysts forecasting a significant rise.
Is Cardano (ADA) Poised for a Rally This Month?
The cryptocurrency fd9272e9-56f0-49a6-b2ce-5ee812def02f experienced a severe correction today (January 3), with numerous assets plunging by double digits. One of the most affected ones was Cardano’s ADA, which is down 11% in the past 24 hours (per CoinGecko’s data).
Whether or not this is a temporary correction or a more lasting downturn, there are multiple optimistic forecasts from many experts. The X (Twitter) user Captain Faibik recently presented a chart in which ADA has formed a “bullish pennant formation.” As such, the analyst envisioned a price appreciation toward $0.80 before the end of January.
Another factor hinting at a possible uptrend in the near future is ADA’s surging on-chain trading volume. According to DefiLlama, the figure has been hovering between $8.8 million and $22.6 million in the past two weeks.
Increased trading volume could signify heightened interest and confidence in the crypto asset, which can attract more investors and drive the price up.
Other Elements That Might Positively Affect ADA
ADA’s price could also head north should a spot Bitcoin ETF see the light of day in the United States. Recall that finance giants such as BlackRock, Fidelity, Invesco, and others have filed applications with the SEC. The agency is supposed to weigh in during the first quarter of the year, with many experts believing an approval could come as early as this week.
The product will eliminate some barriers associated with investing in Bitcoin, such as self-custody, and possibly trigger a wave of fresh investors. This could propel a price increase for BTC, which in turn might positively reflect on the altcoins, including ADA.
The upcoming Bitcoin halving should also be mentioned. The event, scheduled for this spring, occurs approximately every four years and reduces the miners’ rewards in half. It increases BTC’s scarcity, which could lead to a price rally (if demand remains constant).
Analysts like Dan Gambardello have argued that ADA might also benefit from the halving and experience a price spike to an all-time high of $11. Those curious to explore additional forecasts from experts can take a look at our dedicated video below:
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More








