CandleFocus Cardano (ADA) could crash 20% warns expert
2024-12-02
Author: Content Editor
The altcoin season is in full swing, with smaller market cap cryptocurrencies seeing gains while Bitcoin struggles. One such cryptocurrency, Cardano (ADA), has seen a surge in prices and is currently trading at $1.10, with a 207.07% increase in the last thirty days. However, a technical analyst predicts a potential 20% correction, with ADA possibly dropping to $0.88. The analyst points to a rising wedge pattern and a sell signal from the TD Sequential indicator as indications of a bearish reversal. Despite this potential correction, the analyst maintains a bullish long-term view on ADA, predicting a new all-time high of $6 by 2025. Other market commentators note that whales have been bullish on ADA, indicating positive long-term prospects.
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