Cardano (ADA) is currently the best-performing cryptocurrency among the top 10 projects by market cap. The asset is up 11.6% in the daily charts,17.2% in the weekly charts, and 17.3% in the 14-day charts. Bitcoin (BTC), on the other hand, is up only 1.1% in the daily charts and 0% over the previous week. Solana (SOL) is up 1.4% in the last 24 hours and 9.1% in the weekly charts.
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Why Is Cardano Rallying?
ADA’s latest breakout follows a general market resurgence. Bitcoin is inching closer to the $97,000 mark, and the global crypto market cap has reclaimed $3.55 trillion.
The rally could be due to Donald Trump’s inauguration on Jan. 20, 2025. Trump’s assuming office could trigger a market-wide rally due to his pro-crypto stance. ADA and other cryptocurrencies could climb to new heights under his leadership.
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Will The Asset Hit $1.50 Next?
According to CoinCodex, Cardano (ADA) will continue trading at around current levels over the next few weeks. The platform anticipates the asset to hit the $1.50 mark on Feb. 5, 2025. Hitting $1.50 from current price levels will entail a rally of about 45.63%.
CoinCodex anticipates ADA to continue its rally in March, hitting $2.62 on Mar. 15, 2025. Reaching $2.62 from current levels will result in a rally of about 154.37%.
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Changelly analysts are slightly bearish on ADA. The platform predicts ADA to trade at an average price of $1.17 in January 2025, $1.11 in February 2025, and $1.06 in March 2025. Changelly analysis hints that ADA will face a dip over the next few months.
Many anticipate an extended bull run under Trump’s leadership. ADA and other assets could hit new all-time highs over the next few months due to the expected lenient regulations. How the market performs under Trump’s administration is yet to be seen.
