Cardano ($ADA) is ‘ready to run to $5,' according to a cryptocurrency analyst

Michaal van de Poppe, a prominent crypto analyst and trader who believes Cardano's $ADA token is one of the "strongest coins out there," recently explained how the $ADA price might exceed $5 in the near future.

He looked at $ADA's recent price activity utilizing technical analysis in a video posted on his YouTube channel on August 11 and said:

“What is Cardano's target zone if it continues to rise? That is all there is to it. A continuation with Fibonacci extension is in the works... Cardano's next goal zones in a fresh impulse wave are $3.35 and $5.00... Is Cardano prepared for a $5 run? Yes, I believe so. I believe the market is preparing for a new major wave...“

According to TradingView statistics, the price of $ADA, the third most valuable crypto asset by market value, hit an intraday high of $2.2430 at 09:40 UTC on crypto exchange Kraken today; as you can see, this is not far off from the all-time high price of $2.4223, which was established on May 16. ADA-USD is now trading at $2.1724, up 7.02 percent in the last 24 hours (as of 17:50 UTC on August 14).


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