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The layer-1 blockchain Cardano (ADA) is primed to continue its long-awaited price surge, according to a popular crypto analyst. The digital asset trader Ali Martinez tells his 87,300 followers on the social media platform X that whales and “institutional players” have been buying into the Ethereum (ETH) competitor in anticipation of further price increases. “The volume of large Cardano ADA transactions on the network has surpassed $22 billion per day. Those large transactions appear to be related to high accumulation levels. Indeed, whales holding from $1 million to over $10 million in ADA have increased their positions by more than 100% in the past month.  The high buying pressure is starting to move prices, and from a technical perspective, Cardano seems to be mirroring its previous bullish cycle. If this pattern holds true, ADA could target $6!” Source: Ali Martinez/X Martinez also notes that one “key area” of support that ...

Head of Macro Research Julien Bittel predicts that an Ethereum surge is still possible, and the asset can hit the $20,000 price mark. Bittel says that Ethereum’s current market structure resembles previous patterns seen in 2023, and following these patterns could result in a similar rally. Ethereum’s price action is exhibiting signs of consistent accumulation, according to data from TradingView. This accumulation is a positive sign, as mass accumulation is often the predecessor of a significant breakout. According to Bittel’s forecast, prices will rise parabolically and resume their historical pattern from last year. ETH is currently trading at $2,638.96 at press time, up 6% in the past week. However, $3,000 has served as the ultimate resistance level for the asset. The cryptocurrency market has benefitted from bullish momentum due to the growing adoption of crypto. Bitcoin is on the rise right now thanks to the resurgence of crypto ETFs, as well as crypto being a top...