Bitcoin’s strong recent breakout, which has seen it surge to above $93,000 for the first time since early March is also dragging altcoins like Cardano higher.
And the recent bullish breakout in the ADA price could be just the start. Per widely followed technical analyst Ali_charts, Cardano recently broke out of a pennant structure.
He projected a move back to $0.77. But if the Cardano price is able to push above its late-March highs and 200DMA around $0.75-77, that would open the door for a quick move back up to challenge the early March highs above the $1.10s.
Amid the recent market rebound, some analysts are even more optimistic and calling for a new altcoin season.
Per X user @thecryptobasic, Deezy predicted a 10x rally for the Cardano price all the way to $7 per token.
But not everyone is optimistic that a new altcoin season is just around the corner.
Cardano Price Set to Surge Amid New Altcoin Season?
Per X user Elon Money, macro conditions aren’t right for a new altcoin season to arrive just yet.
Here’s my thesis on why I don’t believe altseason has truly started:
I think a full-blown altseason the kind we saw in past cycles requires a solid macro backdrop or at least something resembling one. With inflation picking up and the dollar weakening, I just don’t see the…
Rather, the current macro backdrop of sticky inflation and a weakening US dollar is likely to deter retail investors from ploughing money headfirst into risky altcoins, like Cardano.
Fellow X user VIKTOR concurred, arguing that altcoins remain in a structural bear market, noting that he would be adding to altcoin shorts as Bitcoin breaks into the $90,000s again.
I’ll start to add more altcoin shorts from $88k to $92k
Altcoins remain in a bear market and the fact that all the altcoin top performers today are absolute dogshit confirms it
Current positioning remains long BTC / short altcoins with a small net long exposure in notional…
These takes are in fitting with the idea that what is really needed for altcoin season to kick into overdrive is a favorable macro-backdrop, or more specifically, major liquidity injection into markets by central banks (namely the Fed).
Massive liquidity injection into the market, as seen in 2020/2021, coupled with a marked improvement in the state of the economy (needed for altcoin season), is far from the macro backdrop we are seeing right now.
Rather, right now, the US economy is at risk of sliding into recession thanks to elevated economic uncertainty and reduced US government spending (thanks to DOGE).
But sticky inflation, thanks to tariffs, is keeping the Fed cautious when it comes to interest rates, which remain not far below the multi-decade highs reached in 2023 above 5%.
US bond yields remain elevated, and US stocks are struggling to recover from their recent sell-off.
This is not a good environment for altseason. The takeaway for Cardano traders is not to get too overzealous chasing the Cardano price higher right now.
Yes, a return to recent highs above $1.0 is possible as risk appetite improves. But the conditions for a massive rally aren’t there just yet.
Stack ADA
Savvy crypto investors should see the current market environment as an opportunity. Elevated uncertainty is keeping a lid on the prices of major altcoins like Cardano.
That gives believers a chance to continue stacking at lower prices, in anticipation of major growth in the coming years.
And long-term growth in the Cardano price seems very likely – the Trump administration is ardently pro-crypto and has been moving aggressively to implement pro-crypto regulatory policies design to support growth in the US crypto industry and markets.
Cardano, which Trump has already named-checked as one of his favorite cryptos, is a strong candidate to ride this wave of growth.
Deezy’s prediction for a 10x rally could well come true before the end of Trump’s four year term in early 2029.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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