Cryptocurrency analyst and trader Ali Martinez is expressing a bullish outlook on Cardano (ADA) as the market experiences a rebound. He recently shared that Cardano is mirroring a pattern from 2020, during which it surged approximately 4,095% over 343 days. Martinez anticipates a potential price increase around November 18, roughly two weeks after the U.S. elections, and predicts a market peak by September 2025. At present, Cardano is trading at $0.355.
I believe #Cardano $ADA is following a similar pattern to 2020. If history repeats, we might see a pump around November 18—about two weeks after the US elections—and a potential market top by September 2025. pic.twitter.com/GgKWBqzYXU — Ali (@ali_charts) October 29, 2024
Turning to Bitcoin (BTC), Martinez notes that the Market Value to Realized Value (MVRV) pricing bands suggest Bitcoin could appreciate by about 16% in the short term.
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As per Martinez’s data from Glassnode, the Bitcoin MVRV pricing band was approximately at the 0.5 standard deviation earlier this week. With Bitcoin currently trading at $72,345, Martinez indicates that if it surpasses $70,500, the next local top could be around $84,200, based on the MVRV Pricing Bands. He also mentions that historical data suggests Bitcoin has had a bullish trend in November, closing higher than it opened 63% of the time since 2013. “Moon-vember is just around the corner!” he concludes.
