Cardano (ADA) analysts have been facing criticism for the cryptocurrency's underperformance, but one pseudonymous market expert, Decode, remains bullish on its prospects. Decode has set an ambitious short-term price target of $5 for ADA, citing the completion of Elliot sub-waves 1 and 2 on the ADA/USD 1W chart. He believes that the completion of the third wave could push ADA to a 1,348% gain. Decode also reiterated his long-term target of $16 by December 2023. Other analysts have made varying predictions for ADA, with some speculating a surge to $1.8 or $0.55 and others cautioning a downtrend to $0.22 if the support at $0.33 fails. Currently, Cardano is up 4.41% in the past 24 hours, following Bitcoin's rally above $70,000. Despite this, ADA is still nursing losses of 5.3% in the past week and 13.45% month-to-month.



Other News from Today