According to CryptoPotato, Cardano's ADA has maintained a stable trading level over the past week, despite the volatility observed in most leading cryptocurrencies. Analysts suggest that a potential rise to $1.70, and possibly even an all-time high of $10, could be on the horizon for ADA.
Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Dogecoin (DOGE) have all experienced significant price increases over the past week. However, Cardano's ADA has remained relatively stable, currently trading at around $0.58, which is roughly the same level as a week ago. Despite this consolidation, some analysts predict a bright future for ADA.
Ali Martinez, a popular analyst, presented a chart indicating that ADA's price is exactly where it should be. He suggested that if ADA's valuation remains within the $0.55-$0.80 range, the next move could be a significant increase towards $1.70. Martinez has previously stated that ADA appears ready to mirror its previous bull cycle, potentially leading to a 'parabolic' jump to as high as $10.
Cardano's native token made headlines last month when it became the top cryptocurrency by development activity, surpassing leaders like Bitcoin, Ethereum, and Litecoin. It also recorded the highest amount of weekly engagements. This was not the first time ADA topped the rankings, as it also achieved this feat in January, outperforming Polkadot (DOT) and Kusama Network (KSM).