Analysts Battle Over Cardano’s Next Move: 12,000% Rally Or 50% Crash?

Crypto analysts Cardano (ADA) Future TrajectoryOne analyst believes that crypto tokens Unprecedented price increasesMeanwhile, other analysts are bearish and predict that Cardano could experience a significant price crash.

Cardano records 12,000% increase

in post On Tradingview, crypto analyst Fiery Trading wrote: Cardano It could rise to $40 and even higher. The analyst highlighted the parallel channel and noted that Cardano could reach the top of this channel by 2020. The bull market is hereThis could push the crypto token to as high as $40.

Fiery Trading acknowledged that a Cardano rally to $40 is an “unlikely outcome” but argued that the risk-reward ratio is worth the risk. Current Cardano Price He said this was a “once in a lifetime event” and advised crypto investors not to miss out.

another postFiery Trading again emphasized that Cardano’s current price level is a once-in-a-lifetime entry. He argued that the entry is a “no-brainer” as long as Cardano continues to trade within its channel. Meanwhile, crypto analysts emphasized more conservative price targets, pointing to $25 as another price level that Cardano can reach, and mentioning $3 as a target for “more defensive traders.”

ADA could fall to $0.24

Crypto Analyst Swallow Premium Bearish Outlook for ADAHe noted that the crypto token has finally broken out of the liquidity zone of around $0.40 and is currently at risk of dropping to as low as $0.24. The crypto analyst predicted that Cardano could drop to that price level within the next week or two.

However, crypto analyst Sebastian suggested that Cardano may not fall below the current price range. stated He said the selloff is over and Cardano and the cryptocurrency market as a whole should enjoy a bounce from current price levels, noting that the size of the bounce will determine whether there will be any further declines in ADA.

The crypto analyst further stated that the next move the market should expect is a higher low and a higher high. He said the next target is Cardano at $0.40 And crypto tokens need to go beyond that and stay there.

Crypto Analyst Trend Rider He also noted that there are “quite a few bounce-back signals” on Cardano’s daily chart. Bitcoin’s decline needs to stop for ADA to recover, he said. Bitcoin’s recent drop below $60,000 contributed to the massive sell-off experienced by altcoins such as Cardano.

At the time of writing, Cardano is trading at around $0.38, up around 4% over the past 24 hours. data From CoinMarketCap.

Cardano price chart from Tradingview.com

Related Article

0 Comments

Leave a Comment