Cardano Price Prediction: As ADA Chart Suggests It Might 60X, Investors Rush To Buy This Bitcoin ETF Coin Before A Price Hike

ByEvans Karanja

Updated: 12 December 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The Cardano price surged 7.7% in the last 24 hours to trade at $0.59 as of 8:02 a.m. EST, while trading volume climbed almost 6% to $1.2 billion.

This surge comes as cryptocurrency analyst Tyler Strejilevich stirred up interest within the cryptocurrency community via a tweet that said ADA might be about to explode.

#ADA is about to get a bullish weekly cross for the first time since JUNE 2020

The last time this happened it pumped 6,000% over the next 66 weeks#cardano pic.twitter.com/xQvvbf3b1O

— Tyler Strejilevich (@TylerSCrypto) December 9, 2023

In his tweet, Strejilevich highlights a bullish weekly cross discernible on ADA’s chart, a phenomenon that hasn’t been observed for over three years. The last occurrence of such a crossover catalyzed a 6,000% surge for ADA within a 66-week period.

This surge led to Cardano reaching its all-time high of $3.09 in 2020.

The Cardano Price: Bulls Regain Momentum

Cardano Price Chart Analysis. Source: Tradingview.com — ADAUSDT Chart Analysis. Source: Tradingview.com

After a robust consolidation period, the bulls show a recovery phase, rebounding from the $0.24 support zone. This support acted as a catalyst, propelling the price to form a short consolidation range at $0.38.

However, bulls swiftly regained control, resulting in a sharp upward spike receiving rejection at $0.65, instigating a correction driven by bearish forces.

If this correction sustains, it may compel bulls to retreat to the pivotal support zone at $0.38, coinciding with the 50-day simple moving averages (SMA).

The Relative Strength Index (RSI) is on an upward trajectory, rebounding from the 50 mark and stabilizing at 73, indicating intense buying pressure in the market.

The Cardano Price: Bulls Eyeing May 2022 High

ADA is strongly bullish, with significant support from the alignment of the 50-day and 200-day SMAs, along with a favorable RSI. This sets the stage for bulls to aim for new highs, reminiscent of the peak in May 2022 at $0.92.

However, bears might exploit the resistance level to initiate a correction phase. This poses the risk of erasing current profits and pressuring the bulls toward the $0.38 support zone.

For investors more concerned about ADA’s potential downside than excited about its potential to explode, the BTCETF presale token might be worth considering.

It has seen a rapid surge of interest as it’s tied to the successful launch of spot Bitcoin ETFs (exchange-traded funds).

Bitcoin ETF Token Secures $3.6 Million, Price Hike In 29 Hours

The Bitcoin ETF Token (BTCEFT), an ERC-20 token, is swiftly gaining traction in the cryptocurrency sphere as it approaches its launch.

This project, which seeks to capitalize on the potential approval of spot Bitcoin ETFs, has already made remarkable progress, raising a significant $3.6 million in its presale and nearing its $3.8 million goal.

This innovative project is designed to reward its investors by mirroring the success of Bitcoin. The expectation is that the approval of Bitcoin ETFs will significantly boost Bitcoin’s value. In turn, this will push up the value of BTCETF, leading to substantial gains for its holders.

The awaited debut of a spot #Bitcoin #ETF by @BlackRock might reshape the #Crypto landscape, ushering in institutional funds and igniting a fresh market phase. 🚀

How do you anticipate this type of #ETF impacting the dynamics of the broader #CryptoCurrency market? pic.twitter.com/VHRocGm5Uh

— BTCETF_Token (@BTCETF_Token) December 11, 2023

Currently, you can acquire BTCETF tokens at a special discounted price of just $0.0066.

The rate will rise in the next 29 hours, so interested buyers should act now to get the lowest price.

Enjoy High APY of 76%

Investors are also eagerly participating in the staking of their BTCETF tokens, drawn by the attractive 76% annual percentage yield (APY), which significantly exceeds the industry average of 5–10%.

With the presale nearing its end, staking BTCETF tokens is a promising avenue for generating substantial passive income.

The allocation for staking comprises only 25% of the total token supply. To date, stakeholders have already staked 342 million BTCETF tokens.

Crypto experts and analysts are increasingly noticing the project’s potential for significant post-launch growth.

Crypto analyst Alessandro De Crypto has reviewed the Bitcoin ETF token and recommends it as a must-buy for investors seeking a high APY.

https://www.youtube.com/watch?v=xbmRLEAzkd8

To participate in this exciting opportunity, you can purchase BTCETF tokens directly from the Bitcoin ETF Token website, using either cryptocurrency or a bank card.