Cardano has experienced a large correction during the past few days. Its weekly charts have fallen 7.3%, and its 14-day charts by 11.9%. But the asset still has an increase of 1.4% per day, 17.7% compared to the last month and 93.8% from March 2023.
Also Read: Dubai Police Partners With Cardano Foundation to Prevent Crime
Bitcoin (BTC), which briefly fell below $68k, could have been the cause of ADA’s recent correction. BTC is the current determining factor in the movement of many assets. If we look at ADA’s past data, it is possible that we will see a surge in price soon.
Cardano (ADA), will it soon surpass the $1 mark?
Ali Charts’ crypto-analyst says ADA is currently following a pattern similar to that seen from 2018-2021, right before it hit its highest point. Ali claims that if this trend continues, ADA may consolidate at between $0.55-$0.80 in the next weeks. The analyst does note, however, that the consolidation will be followed up by an increase to $1.70. That would represent a rise of about 150% compared to current levels. Ali Charts also says that an increase to $1.70 may set up a break out to $5. To reach $5 at current levels,
Also Read: Cardano Forecasted To Hit $0.8: Analyst Shares Next ADA Targets.
ChangellyCardano, on the other hand, does not have a lot of optimism. Platform predicts that the asset will reach its maximum price of $0.749 in this year. Changelly doesn’t expect ADA price to reach $1 until May 2025 at the earliest, which is more than a full year later. Changelly estimates that the $5 mark won’t reach until December 2028.
Telegaon. However, he is a bit more optimistic about ADA. Platform predicts that the maximum price will be $2.15 by 2024. Telegaon also predicts that ADA will surpass the $5 mark in 2027.
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Source: watcher.guru