CandleFocus Analyst Says Cardano Price Correction Likely Not Over
2024-10-05
Author: Content Editor
Market commentator Alan Santana believes that the correction in the Cardano (ADA) price is not yet over. ADA has experienced an 11.37% correction in the past week, while the broader cryptocurrency market has shown signs of recovery. Santana speculates that ADA will continue its downtrend, targeting a price range of $0.2367. He points to ADA's failure to touch the major resistance at its MA200 trend line as a sign of inherent price weakness. Santana suggests that the next correction to $0.2367 could be the last phase before a significant price recovery. He also predicts that Cardano could reach its yearly high of $0.7742, but it may take until Q1 2025 to achieve that level. Other analysts, such as Ray Trader, have also called for further correction in ADA's price, with predictions of a fall to $0.15.
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