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Cardano Price Prediction as Fiery Trading Forecasts an 8800% Rise to $35 – Is This the Year for ADA’s Big Leap?

Simon Chandler
Last updated: | 3 min read
Cardano Price Prediction as Fiery Trading Forecasts an 8800% Rise to $35 - Is This the Year for ADA's Big Leap?
Source: Dall•E 3

The Cardano price has barely moved in the past 24 hours, posting a 0.2% dip to $0.363808 on a day when the cryptocurrency market has fallen by 1.5% as a whole.

This price means that ADA has risen by 2% in a week and by 44% in the last 30 days, with Bitcoin ETF excitement and growing bullishness helping to push the altcoin forwards.

Yet many analysts expect ADA to continue rising even further, with Fiery Trading predicting yesterday that the cryptocurrency will eventually reach $35%, marking an 8800% jump from its current level.

Cardano Price Prediction as Fiery Trading Forecasts an 8800% Rise to $35 – Is This the Year for ADA’s Big Leap?

The market may have cooled off a little in the past few days, but ADA’s chart continues to show momentum and promise.

Most bullishly, its 30-day average (yellow) climbed over its 200-day (blue) a few days ago, a move which often signals further gains.

Cardano price chart.
Source: TradingView

At the same time, the coin’s relative strength index (purple) has begun inching upwards again after a dip at the start of the week, with the indicator – which measures momentum relative to previous prices – back on its way towards 70.

This suggests considerable buying pressure, with ADA’s trading volume also reinforcing this impression.

Indeed, it has risen from only $100 million at its lowest points in October to just over $400 million today, a sign of ongoing interest in the token.

Yet for some observers, ADA has really only just begun warming up, with the aforementioned online analyst Fiery Trading predicting an eventual climb to $35.

Admittedly, Fiery Trading doesn’t expect ADA to reach this target until 2025, yet it would still imply substantial gains for the altcoin during 2024.

And many other analysts are expecting a general bull market for next year, caused partly by the next Bitcoin halving and partly by the (expected) acceptance of Bitcoin ETFs.

Cardano’s fundamentals will also play a key role in incoming prise gains.

As a blockchain, Cardano has introduced significant developments and updates this year, with its total value locked in rising by around 389% since January.

Few major networks have matched such growth this year, with even the much-feted Solana – which has risen in price by more than 400% since the start of the year – witnessing a 165% rise in TVL.

Cardano’s expansion is therefore highly encouraging, with the Cardano price likely to reach $0.50 by the end of 2023.

Other High-Potential Altcoins

While many expect big things from Cardano, its rise may be relatively gradual from here on out, so any trader looking for quick returns may be advised to diversify into other coins.

Such diversification should probably include some presale tokens, since the most successful of these can often rally big after launching on exchanges.

A prime candidate for doing just this is TG.Casino (TGC), a decentralized online casino that has raised over $2 million in its token offering.

What sets TG.Casino apart from many of its rivals is that it operates the frontend of its casino on popular social messaging app Telegram.

This means games are announced and played on its Telegram channel, which it has already managed to grow to more than 6,000 members.

This is an impressive count for such a new project, with TG.Casino launching its casino only a few weeks ago.

It helps that its platform offers a wide variety of games and experiences, from cards to sports betting.

On top of this, its native token TGC – which it uses to pay winnings – can also be staked, earning holders a passive income.

Investors can buy some early at the official TG.Casino website, where 1 TGC costs $0.155.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.