Most of the crypto assets are experiencing quite a trembled situation as the prices are trending towards the south. As Bitcoin price fell drastically from the cliff, many altcoins including Cardano price also followed the trend. However, ADA price could sustain strong above $2 in order to keep up the uptrend.
The asset after a substantial jump is shedding its gains profusely, and trading within a descending channel. However, after the extreme sell-offs, the buyers appear to have jumped in and weaken the selling pressure. And hence the price could eventually uplift above $3 as predicted by a popular analyst Micheal de van Poppe.
As per the analyst, the current dip may lead the price to shed more and get an inch close to $2. However, the upcoming rally could lead the price back above $3, very close to its ATH at $3.1. But the interesting thing is, he believes the price to surge gradually and hit the highs somewhere by the end of 2021 or by the beginning of 2022.
Collectively, the entire crypto space is facing a pullback, maybe due to Binance’s announcement of the discontinuation of service in Chinese territory. Many assets are making every effort to prevent further dip. And hence Cardano(ADA) price could retrace very soon, in order to range high towards the mentioned target.
Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
- ^ Cardano (coinpedia.org)
- ^ ADA price (coinpedia.org)
- ^ Bitcoin V/S Altcoins! Bitcoin Will Eat Altcoins Volumes This Season? (coinpedia.org)
- ^ Cardano, Solana, and Ethereum are in a Tight Race to Gain the Dominance in DeFi Space! (coinpedia.org)