Cardano Price Prediction: Will ADA Hit $5 This Year? Analysts Say This Coin Priced Under $0.05 Could

Much like the ETH token, Cardano seems to have struck gold in the past few days. The hype around meme coins, particularly those on the Solana blockchain, is dipping, and attention is coming back to DeFi.

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Cardano price is recovering; what’s behind it?

The bulls are finding their way to the Cardano token, as ADA ended the week on a strong foot. Predictions are in favor of the ADA token too, and the general conclusion is that Cardano could be seeing a spike soon.

Cardano benefited from a rally in November, raising its price past the 50-cent mark for the first time in three years. The rally also saw the token sit above its EMAs for extended periods, sustaining the effects of the spike considerably.

Now, the ADA charts have been faced with mixed signals for the past two weeks, as most traders are unsure of how to proceed from here. The market occurrences in that time have not exactly made things easier for Cardano too, as the market dip and meme coin hype drove off the bulk of ADA traders.

Cardano has a fighting chance, finally 

The bullish pennant signal recently identified on the ADA charts will be switching things up for the Cardano price, though. A period of consolidation followed ADA’s almost two months of being bullish, and now, that consolidation is about to pay off.

Chart history also shows that the very same signal appeared before the November spike on Cardano, giving more strength to ADA’s bullish claims. The signal resulted in a 3x move at the time, but the Cardano price had the help of a bull run too.

Now, however, analysts and top traders are holding out for a modest jump to $2 for the Cardano price. The token currently trades at $0.97, some 0.73% better on the 24-hour charts, with eyes on bullish prospects.

Maybe Cardano cannot manage a $5 surge in the new year, but Rollblock has its eyes on that price range.

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