Crypto expert Trend Rider has highlighted to Cardano (ADA) investors that the cryptocurrency may witness a substantial price increase in the near future. According to Trend Rider’s assessment, the value of Cardano could reach up to $3 during this upward trend.
Cardano To Rise To $3 If History Repeats Itself
According to a post on X (previously Twitter) by Trend Rider, if historical patterns hold true, Cardano could be approaching a significant test of support at a lower price point before experiencing a dramatic surge in value. This price increase might take the crypto token up to $3, as was seen in October 2020 when Cardano’s price dropped to $0.10 and subsequently rose to $3.
The crypto expert shared that Cardano’s RSI was showing a bullish sign with a recent crossover and retest, suggesting it might be preparing for another strong price surge. This specific RSI development is considered an accurate indicator of market trends for ADA.
In a previous post on the X forum, Trend Rider emphasized the significance of Cardano maintaining its current support point. He pointed out that the price of ADA is currently at a pivotal point and warned that if it fails to keep above this level, there’s a risk of falling as low as $0.25. On the other hand, if Cardano can hold above this support zone, Trend Rider suggested that this could mark the bottom before the price rebounds to $1.
Trend Rider further elaborated that Cardano’s next move will depend “entirely” on what Bitcoin does. He predicts that altcoins like Carano will experience a “monstrous bounce” if the flagship crypto rises above $65,000 after its current price dip. However, if Bitcoin’s price continues to dip, then it is “bear market mode,” Trend Rider added.
Cardano Won’t Be In The Red Forever
Crypto expert Alan Santana has given ADA investors reason for hope, asserting that the crypto asset won’t stay in the red forever. He made this remark, recognizing that Cardano has exhibited a bearish trend, having been in a downturn for over seven weeks. However, Santana remains positive about the future direction of the crypto token, forecasting that Cardano will undergo significant growth towards the end of 2024 and throughout most of 2025.
Santana mentioned that this was a great opportunity for investors planning to experience the entire bullish trend of ADA to build up their holdings. The crypto expert advised long-term investors to consider purchasing between $0.40 and $0.45 as an attractive “buying zone.” This price range was also where Santana expected Cardano to take a dip in search of support based on his earlier predictions.
Currently, Cardano is priced at approximately $0.45 per unit, representing a nearly 2% decrease in value over the past 24 hours based on information from CoinMarketCap.
Read More
- CORE PREDICTION. CORE cryptocurrency
- Top gainers and losers
- SYS PREDICTION. SYS cryptocurrency
- KUNCI PREDICTION. KUNCI cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- CFG PREDICTION. CFG cryptocurrency
- Best coins for today
- DOGE PREDICTION. DOGE cryptocurrency
- THOR PREDICTION. THOR cryptocurrency
- STFX PREDICTION. STFX cryptocurrency
2024-04-19 01:16