{"id":637368,"date":"2024-08-23T11:00:53","date_gmt":"2024-08-23T11:00:53","guid":{"rendered":"https:\/\/ktsl888.com\/?p=637368"},"modified":"2024-08-23T08:33:10","modified_gmt":"2024-08-23T08:33:10","slug":"cardano-price-2-88-following-solana-fractal","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/cardano\/cardano-price-2-88-following-solana-fractal\/","title":{"rendered":"Cardano Price Poised To Hit $2.88, Following Solana&#8217;s Fractal: Crypto Analyst"},"content":{"rendered":"<p>Crypto analyst @XForceGlobal shared a new video chart analysis focused on Cardano (ADA), a cryptocurrency that many are dismissing as a \u201cdinosaur coin\u201d at the moment. In the <a href=\"https:\/\/www.youtube.com\/watch?v=_zRmU5naj3U\" target=\"_blank\" rel=\"noopener nofollow\">analysis<\/a>, XForceGlobal (@XForceGlobal) provided an in-depth look at Cardano\u2019s current position within the Elliott Wave cycle, suggesting that ADA is on the of entering a strong upward phase, commonly referred to as &#8220;Wave 3.\u201d<\/p>\n<h2>Cardano Price Could Soar To $2.88<\/h2>\n<p>The analyst compares the current price action of ADA to that of Solana (SOL). Earlier this year, Solana demonstrated a similar price trajectory under comparable market conditions. The comparison is drawn using logarithmic price charts, which clearly displays the Elliott Wave structures, identifying a WXY corrective pullback followed by a new impulse wave setup.<\/p>\n<figure id=\"attachment_637373\" aria-describedby=\"caption-attachment-637373\" style=\"width: 1744px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-637373 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/GVpHlZzXcAAk8bV.jpg?resize=1744%2C1177\" alt=\"Cardano Elliott Wave analysis\" width=\"1744\" height=\"1177\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/GVpHlZzXcAAk8bV.jpg?w=1744 1744w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/GVpHlZzXcAAk8bV.jpg?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/GVpHlZzXcAAk8bV.jpg?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/GVpHlZzXcAAk8bV.jpg?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/GVpHlZzXcAAk8bV.jpg?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/GVpHlZzXcAAk8bV.jpg?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/GVpHlZzXcAAk8bV.jpg?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-637373\" class=\"wp-caption-text\">Cardano Elliott Wave analysis | Source: X @XForceGlobal<\/figcaption><\/figure>\n<p>&#8220;If we look at the actual wave count of Solana you can see that it did a WXY pullback. Now this corrected pullback caught us all off guard, it didn&#8217;t look like a correction pullback in the first place. It looked better as an impulse to the downside [&#8230;] it caught everyone off guard. Even the <a href=\"https:\/\/ktsl888.com\/news\/cardano\/ada-price-prediction-hurdle-0-470\/\" target=\"_blank\" rel=\"noopener \">bulls<\/a> and even the bears,&#8221; explained XForceGlobal.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/cardano\/cardano-chang-upgrade-ada-52\/\">Cardano Chang Upgrade Launch: ADA Sees 52% Explosion In Major Metric<\/a><\/div>\n<p>The Elliott Wave Theory, which is central to his analysis, posits that markets move in repetitive cycles of waves driven by investor psychology. According to XForceGlobal, ADA is mirroring the early stages of <a href=\"https:\/\/ktsl888.com\/news\/solana\/solana-poised-for-400-500-upside-as-analyst-spots-wave-5-formation\/\" target=\"_blank\" rel=\"noopener \">Solana\u2019s previous rally<\/a>, which saw significant gains as it entered the third wave of its cycle. The crypto analyst outlined that ADA is currently positioned in what appears to be the second wave, following a corrective pullback, which typically precedes strong bullish momentum.<\/p>\n<p>\u201cIn the previous bull market alone, we did an 18,000% [&#8230;] and I&#8217;m not sure why people are just brushing this coin off as a dead coin. I believe it&#8217;s a very good coin but we just need to find the right opportunity in terms of the timing,&#8221; stated the analyst during the video.<\/p>\n<p>Delving into the potential future of ADA, the analyst projects a conservative estimate of a 5x to 10x times increase in its price. This prediction is based not only on Elliott Wave analysis but also on comparative historical data from other high market cap altcoins like XRP, which are currently in similar positions within their market cycles.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/cardano\/cardano-rises-8-as-hoskinson-reveals-launch-date-for-highly-anticipated-chang-fork\/\" target=\"_blank\" rel=\"noopener nofollow\">Cardano Rises 8% As Hoskinson Reveals Launch Date For Highly Anticipated Chang Fork<\/a><\/div>\n<p>&#8220;Wave 3\u2019s are usually the most profitable, if not arguably better than what XRP is going to be giving us because XRP right now is on Wave 3 to 4 and we don&#8217;t know how wave five is going to be completed and that&#8217;s usually the end of a trend. ADA is in a wave three and it may be even going for a wave five which can be even bringing us to higher levels that could be giving us a potential break of the all-time high,\u201d XForceGlobal remarked.<\/p>\n<p>To quantify the risk-reward ratio, the analyst uses a long positioning tool that suggests a 14 or 15 : 1 one risk-reward potential, based on a prospective 600% run. Additionally, the crypto analyst emphasized the importance of historical context and the apparent neglect of \u201cdinosaur coins,\u201d in favor of more recent, meme-driven cryptocurrencies:<\/p>\n<p>\u201cI believe dinosaur coins, AKA coins that have been trading since 2018 or so, that have a relatively long price history, may be setting us up for another run since they haven&#8217;t gone for a run during this whole <a href=\"https:\/\/ktsl888.com\/news\/floki-leads-crypto-market-13-surge\/\" target=\"_blank\" rel=\"noopener \">memecoin narrative<\/a>.\u201d<\/p>\n<p>In conclusion, @XForceGlobal&#8217;shighlights a highly optimistic outlook for ADA. Via X, he stated: \u201cCardano did an 18,000% run in its last bull run, but it also did one of the strongest pullbacks during the bear market. Structure looks very similar to when SOL was creating a bottom as well for a 1-2 sequence. Wave 3 targets would be around $3.\u201d<\/p>\n<p>At press time, ADA traded at $0.3842.<\/p>\n<figure id=\"attachment_637375\" aria-describedby=\"caption-attachment-637375\" style=\"width: 3628px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-637375 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?resize=3628%2C1675\" alt=\"Cardano price\" width=\"3628\" height=\"1675\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?w=3628 3628w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?w=2048 2048w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?w=1140 1140w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/ADAUSDT_2024-08-23_10-14-20.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-637375\" class=\"wp-caption-text\">Cardano price, 1-day chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/ULpZ7ZYp\/\" target=\"_blank\" rel=\"noopener nofollow\">ADAUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with DALL.E, chart from TradigView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto analyst @XForceGlobal shared a new video chart analysis focused on Cardano (ADA), a cryptocurrency that many are dismissing as a \u201cdinosaur coin\u201d at the moment. In the analysis, XForceGlobal (@XForceGlobal) provided an in-depth look at Cardano\u2019s current position within the Elliott Wave cycle, suggesting that ADA is on the of entering a strong upward phase, commonly referred to as &#8220;Wave 3.\u201d Cardano Price Could Soar To $2.88 The analyst compares the current price action of ADA to that of Solana (SOL). Earlier this year, Solana demonstrated a similar price trajectory under comparable market conditions. The comparison is drawn using logarithmic price charts, which clearly displays the Elliott Wave structures, identifying a WXY corrective pullback followed by a new impulse wave setup. &#8220;If we look at the actual wave count of Solana you can see that it did a WXY pullback. Now this corrected pullback caught us all off guard, it didn&#8217;t look like a correction pullback in the first place. It looked better as an impulse to the downside [&#8230;] it caught everyone off guard. Even the bulls and even the bears,&#8221; explained XForceGlobal. Related Reading: Cardano Chang Upgrade Launch: ADA Sees 52% Explosion In Major Metric The Elliott Wave Theory, which is central to his analysis, posits that markets move in repetitive cycles of waves driven by investor psychology. According to XForceGlobal, ADA is mirroring the early stages of Solana\u2019s previous rally, which saw significant gains as it entered the third wave of its cycle. The crypto analyst outlined that ADA is currently positioned in what appears to be the second wave, following a corrective pullback, which typically precedes strong bullish momentum. \u201cIn the previous bull market alone, we did an 18,000% [&#8230;] and I&#8217;m not sure why people are just brushing this coin off as a dead coin. I believe it&#8217;s a very good coin but we just need to find the right opportunity in terms of the timing,&#8221; stated the analyst during the video. Delving into the potential future of ADA, the analyst projects a conservative estimate of a 5x to 10x times increase in its price. This prediction is based not only on Elliott Wave analysis but also on comparative historical data from other high market cap altcoins like XRP, which are currently in similar positions within their market cycles. Related Reading: Cardano Rises 8% As Hoskinson Reveals Launch Date For Highly Anticipated Chang Fork &#8220;Wave 3\u2019s are usually the most profitable, if not arguably better than what XRP is going to be giving us because XRP right now is on Wave 3 to 4 and we don&#8217;t know how wave five is going to be completed and that&#8217;s usually the end of a trend. ADA is in a wave three and it may be even going for a wave five which can be even bringing us to higher levels that could be giving us a potential break of the all-time high,\u201d XForceGlobal remarked. To quantify the risk-reward ratio, the analyst uses a long positioning tool that suggests a 14 or 15 : 1 one risk-reward potential, based on a prospective 600% run. Additionally, the crypto analyst emphasized the importance of historical context and the apparent neglect of \u201cdinosaur coins,\u201d in favor of more recent, meme-driven cryptocurrencies: \u201cI believe dinosaur coins, AKA coins that have been trading since 2018 or so, that have a relatively long price history, may be setting us up for another run since they haven&#8217;t gone for a run during this whole memecoin narrative.\u201d In conclusion, @XForceGlobal&#8217;shighlights a highly optimistic outlook for ADA. Via X, he stated: \u201cCardano did an 18,000% run in its last bull run, but it also did one of the strongest pullbacks during the bear market. Structure looks very similar to when SOL was creating a bottom as well for a 1-2 sequence. Wave 3 targets would be around $3.\u201d At press time, ADA traded at $0.3842. Featured image created with DALL.E, chart from TradigView.com<\/p>\n","protected":false},"author":571,"featured_media":637378,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,84005,12332,89230,12329,83626,92946],"class_list":["post-637368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-price","tag-cardano","tag-cardano-news","tag-cardano-price","tag-solana","tag-solana-fractal"],"acf":[],"yoast_head":"\n<title>Cardano Poised To Hit $2.88, Following Solana&#039;s Fractal: Analyst<\/title>\n<meta name=\"description\" content=\"Crypto analyst @XForceGlobal shared a new video chart analysis focused on Cardano, predicting ADA could hit $2.88.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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