Ali Martinez, one of the well-known analysts of the cryptocurrency market, especially known for his analyzes on Cardano (ADA), made a statement about the possibility of a bull rally in ADA.
According to the analyst, if the Cardano price moves according to the pattern at the end of 2020 and exhibits a similar price behavior, the price of the altcoin may remain in the consolidation phase until April 2024. However, the analyst claimed that this consolidation will set the stage for ADA's next bull rally.
At the moment of writing this article, Cardano price is trading at $0.516 and has lost approximately 8% in value in the last month.
Cardano broke the all-time high price record by reaching as high as $3.10 during the great altcoin bull of 2021. It is currently trading 83.33% lower than this level.
In addition, Ali Martinez also shared interesting onchain data about Bitcoin. According to the data shared by the analyst, 912,626 BTC moved around $ 42,560, which constitutes the largest area of interest for BTC so far.
*This is not investment advice.
