CandleFocus Analyst Predicts 8,500% Rally For Cardano To Reach $31 As Indicators Turn Bullish
2024-09-23
Author: Content Editor
The crypto analyst Dan Gambardello predicts a potential bullish reversal for Cardano (ADA) based on technical analysis of the weekly and daily charts. He suggests that ADA could potentially reach $31, representing an 8,500% increase from current levels. He points to the MACD on the weekly chart showing signs of a bullish crossover as a positive indicator. However, he cautions that ADA has yet to decisively move above certain moving averages and advises patience until a true breakout is confirmed. Another analyst, Sssebi, offers a more conservative forecast, predicting a rally of 20x to 30x over the next year. However, trader "Lingrid" has a more cautious perspective, predicting a short-term pullback for ADA. On-chain metrics also indicate a prevailing bearish sentiment among traders. At the time of writing, ADA was trading around $0.352 with a modest price decline and lower trading volume.
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