Cardano Price Struggling Against Bitcoin: Will ADA Reach a New ATH?

Core Insights - Cardano has experienced significant price fluctuations in the past, with notable runs in 2018 and 2021 that provided investors with returns of 50-100x, but currently struggles to maintain a price above $1 [1] - The potential for a price increase to $5-8 is discussed, contingent on a fully diluted valuation (FDV) of $30 billion and a total supply of 45 billion tokens, which would imply an FDV of $300 billion if the market attracts $270 billion, especially with ETF approval [2] - Technical analysis indicates that the monthly chart shows promise, with the last candle closing above the MA50, and a key resistance level at $1.13, which if surpassed, could lead to a target of the previous all-time high (ATH) at $3 [2] Technical Analysis - The ADA/BTC chart suggests that Cardano may experience a price movement similar to past alt seasons in 2018 and 2021, with the current price at range lows indicating potential for a rally in the coming months [3] - The daily chart indicates a lack of significant movement over the past year, with Cardano currently below all moving averages, raising the possibility of testing the support level at $0.52 again [4] - On the 4-hour timeframe, a support level at $0.63 is forming, and the future price action will determine whether it can regain the moving averages or retest $0.52 [5]