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Home»BITCOIN NEWS»Crypto analyst predicts Cardano rise to $3 as price reaches ‘ultimate support test’
BITCOIN NEWS

Crypto analyst predicts Cardano rise to $3 as price reaches ‘ultimate support test’

By Crypto FlexsApril 18, 20243 Mins Read
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Crypto analyst predicts Cardano rise to  as price reaches ‘ultimate support test’
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Cryptocurrency Analyst Trend Rider The attention of Cardano (ADA) holders has been focused on the cryptocurrency token’s potential to soon experience significant price appreciation. Based on Trend Rider’s analysis, Cardano If this happens, it could go up to $3.

If history repeats itself, Cardano will rise to $3

Trend Rider Mentioned on X (formerly Twitter) post If history repeats itself, Cardano may face the “ultimate test of support” before its parabolic rise. He also suggested that the cryptocurrency token could soar to $3, considering the same thing happened in October 2020 when the price of Cardano fell to $0.10. Soars to $3 later.

The cryptocurrency analyst also stated: Cardano was currently experiencing a strong relative strength index (RSI) crossover and retest. This could actually mean that we are preparing for another parabolic move. This RSI crossover is an indicator that “perfectly predicts bull and bear markets for ADA.”

Source: X

Meanwhile, previously X post, Trend Rider explained how important it is for Cardano to maintain its current support levels. According to him, the price of ADA is “currently at a very risky level and could quickly fall to $0.25 if it fails to hold the current support area.” However, if Cardano holds above this support level, it could hit a “true bottom” before rising to $1, Trend Rider claimed.

Trend Rider detailed that Cardano’s next move will “entirely” depend on what Bitcoin does. He predicts that altcoins like Carano will experience a “huge rebound” if they become mainstream cryptocurrencies. Rise above $65,000 After the current price drop. However, if the price of Bitcoin continues to fall, it is “bear market mode,” Trend Rider added.

Cardano won’t be in the red forever

Cryptocurrency analyst Alan Santana It provided some form of optimism for ADA holders. state Cryptocurrency tokens won’t be red forever. He said Cardano bearish outlook, has been in the red for seven weeks now. Nonetheless, he remains optimistic. Future trajectory of crypto tokens He predicted that Cardano would experience a “big green” in “late 2024 and most of 2025.”

Santana also noted that now is a great time to accumulate for those looking to enjoy the “full bullish flow.” For those looking to invest in ADA for the long term, the cryptocurrency analyst highlighted the $0.40 and $0.45 price range as a good “buy zone.” That’s also the price range Santana had previously predicted Cardano may bid to find support.

At the time of writing, Cardano is reportedly trading at around $0.45, down nearly 2% in the last 24 hours. data From CoinMarketCap.

Cardano price chart on Tradingview.com

ADa price struggles to hold $0.45 | Source: ADAUSDT on Tradingview.com

Featured image from The Daily Hodl, Chart from Tradingview.com

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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