Renowned crypto strategist, Trader Ali Martinez, believes that Cardano (ADA) is on the verge of experiencing significant upward movements. Martinez, who has a strong following of 61,400 on social media platform X, expresses his bullish sentiment towards ADA. Despite a 50% drop in value over the past month, the analyst suggests that ADA is primed for a parabolic bull run. Martinez highlights that in 2020, Cardano underwent a 50% correction followed by an impressive 4,095% bull run after breaking out of a parallel channel. He predicts a similar pattern occurring this time, with ADA currently undergoing a 50% price correction, setting the stage for a substantial bull run. According to Martinez’s chart, he anticipates Cardano to appreciate by approximately 2,080% from its current levels. At the time of writing, Cardano is trading at $0.467.
Martinez also provides insights into Bitcoin (BTC), stating that the Tom DeMark (TD) Sequential indicator is signaling a bullish pattern for the cryptocurrency. The TD Sequential Indicator is used by traders to forecast potential trend reversals based on the closing prices of previous bars or candles. Martinez claims that the indicator is presenting a buy signal on the Bitcoin daily chart, suggesting a rebound of one to four daily candlesticks for BTC. Bitcoin is currently trading at $62,750, reflecting a 6% increase in the past day.
Disclaimer: This article reflects the opinions of Trader Ali Martinez and does not constitute investment advice. It is recommended for investors to conduct their own research and exercise caution when making high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, including its participation in affiliate marketing, does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice.
