The crypto bull market is attracting traders back into the market and many are expecting an altcoin season. In this environment, analysts discuss several potential bullish cases for Cardano.
At the same time, two altcoins, Chainlink and Cutoshi are attracting a lot of attention.
Cardano Eyes Previous ATH
During the latest crypto rally, Cardano (ADA) has reached multi-year highs and traders are now watching where it can go next. ADA has seen a 116.06% increase in the last 30 days and registered a peak in volumes. Notably, daily trading volume hit $52.26 billion, which is a seven-month high for the network.
The price increase coincided with a surge in whale transactions. Notably, for the second week in a row, the chain registered more than 8,900 whale transactions from wallets with more than $10 million ADA. This is a 6-month high for the chain, which saw slow performance in the last year.
Thanks to this momentum, Cardano is now racing to the psychological level of $1. One of these is reaching its all-time high of $3.12 in 2021. In a more bullish scenario, Cardano has the potential to reach $6.00.
Further growth for Cardano really depends on both the continued crypto market rally as well as rising adoption. If Cardano can attract more applications and users to its ecosystem, analysts believe that price targets of $12 or even $15 are possible.
Chainlink Eyes Doubling On Strong Technicals
The crypto market rally has also boosted Chainlink (LINK). In the last 30 days, Chainlink rose 18.80% last month to $14.4. This is about the same performance as Ethereum’s. However, technicals show a potential for much higher gains in the near future.
For instance, crypto analyst Michaël van de Poppe, or CryptoMichNL on Twitter, sees significant potential in the chart. Pointing to technical charts, the founder of MN Consultancy sees Chainlink’s next target at $18.
Analyst Valdrin Tahiri also sees significant potential for a breakout. He also sees resistance at $18.8 but sees potential for an 80% price increase very soon. This is supported by a Relative Strength Index (RSI) above 50 and a moving average bullish cross pattern. These patterns indicate a scenario where Chainlink can reach $37 before the end of the year.
Cutoshi Is Trending In Altcoin Season
With altcoins like Cardano and Chainlink posting significant growth, traders are expanding their portfolios. Traders are once again excited with the start of the altcoin season. Notably, one of the tokens that is currently trending on X is a memeFi token, Cutoshi (CUTO).
This community sentiment has also translated into presale success. In just under a month since its launch in September, Cutoshi attracted $924,855 in investments.
The Cutoshi project takes its inspiration from Bitcoin creator Satoshi Nakamoto. The project’s goal is to further digital freedom and privacy and move crypto away from centralized platforms. They are planning to launch a multichain DEX, enabling anyone to trade without restrictions. The project will also feature a learning platform to onboard more users to DeFi.
With more and more traders taking privacy more seriously, projects like Cutoshi are more important than ever. With altcoin season just starting, this could be an opportunity for traders to learn about decentralization and become true DeFi users.
For more information on the Cutoshi (CUTO) Presale: Cutoshi
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