🔥$ADA Expected price surge 50% 🔥
3 reasons why Cardano price may surge 50% soon
Cardano price rose for the third consecutive day as the ongoing crypto market comeback continued, with the total market cap of all coins jumping to $3.7 trillion.
Cardano (ADA) climbed to $1.13, its highest level since Jan. 7, and is now 43% above its lowest level in December.
Cardano potential ecosystem growth
ADA has continued to trail popular coins like Sui and Solana due to its relatively weak ecosystem. Cardano currently has only 34 decentralized finance applications, with a total value locked of $553 million.
$ADA ETF Approval this year
Cardano, being an American crypto project with a market cap exceeding $35 billion, could benefit from such approval. An ADA ETF would likely attract more institutional capital and drive its price higher.
Cardano price has strong technicals
Finally, ADA’s technical indicators suggest that its price could rise significantly during the ongoing crypto bull run.
The daily chart reveals that Cardano has formed a bullish flag chart pattern, consisting of a long flagpole and a rectangle consolidation. Such patterns often result in strong bullish breakouts, as demonstrated recently with XRP, which formed a bullish pennant.
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