Cryptocurrency analysts have predicted that Cardano (ADA) could surge by 44% in the short-term. In addition, they took into account the development of DeFi (decentralized finance) and estimated that ADA's price has the potential to even reach up to $5 in the next bull cycle. Traditional stock markets such as the S&P 500 were not initially correlated with the digital asset market, but the recovery of S&P 500 recently has provided an optimistic outlook for cryptocurrency prices. Results from the analysis showed that the Cardano altcoin presented a descending triangle on the chart, indicating a potential decline if the support line is broken.

However, a bullish divergence had taken place, with the RSI indicator demonstrating higher lows and ADA's price leveled out - the breakout of the bearish chart pattern has already been recorded. Although the analysts estimated that the value may reach $0.37 soon, ADA was trading at $0.25 at the time. Long term predictions saw ADA as having potential to soar to $3, or even $18.

These forecasts were backed up by the significant growth of the DeFi ecosystem associated with Cardano, which was operating even in the depths of the bear market. This proved that ADA has existing value and likely to see a further increase. Nonetheless, investors should be aware of the ever-fluctuating cryptocurrency market and take caution when making any decisions.



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