Cardano (ADA) has gone down with the market as a whole, from a high point of $0.810 in March to a low point of $0.357 on June 22. But it has recently moved away from Bitcoin (BTC) and Ethereum (ETH). It has gone up 2% in the last 24 hours and 12% in the last two weeks.
An optimistic view among technical experts is that ADA could have a major rally soon. On ADA’s daily chart, they show a proven breakout from a Falling Wedge pattern. On Tuesday, the token’s price went above the important $0.407 level.
Cardano Price Prediction
Captain Fabik, a crypto expert, thinks that the price of ADA will rise by about 70% in the next few months, aiming for a level close to $0.704, which is just below its all-time high. This outlook is backed by users who are optimistic and think ADA will soon be close to $0.80 after the Falling Wedge pattern forms.
But not all experts think the market will go up. Crypto Bullet is more wary. They say that the price of ADA might go up, but they don’t think it will reach a new all-time high during this cycle. The analyst sets big goals for ADA at $1.15 and $1.80, pointing out a big difference from the coin’s previous high of $3.09 during the 2021 bull run.
ADA has a market value of $14.6 billion and more positive technical signs can be seen on its daily chart, which shows that the bullish trend will continue. Jesse Olson, a market expert, says that ADA is about to get a buy signal and has bullish goals. Indicators like bullish divergence, RSI buy signals, and MACD crossovers support this.
Even though people are becoming more optimistic, ADA still has to go through a number of resistance stages. Cardano is currently trading at $0.415 and needs to get past support at $0.418, as well as other obstacles at $0.438, $0.503, $0.517, and $0.590 on its way to the $0.600 level.
People are also looking forward to the upcoming Chang upgrade, which will likely add new government features to Cardano. These changes, like delegated involvement and treasury withdrawals, could slow or stop ADA’s progress, but it’s still not clear how much.
