Altcoins

Are The Bottoms Already in for Cardano? This Maybe When the ADA Price Could Hit $1

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Jun 9, 2022

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The top 6th crypto asset according to the market capitalization, Cardano is known for a diversified trend. The asset is known to decouple from the market trend and surge high towards the upper targets. Therefore, a similar trend is been witnessed in the past couple of days, as ADA price gears up for a huge bull run. 

The ADA price from the beginning appears to have followed a significant pattern to test the lows and later ignite a rebound. The asset follows a steep descending trend, dropping more than 50% to 60% from the current levels to hit the bottoms. Further maintains a brief consolidation and suddenly spikes high to reach out to a new ATH. 

And as per a popular analyst, the Cardano (ADA) price may undergo a significant bounce and achieve a new ATH in the next 6 months. 

Currently, like many other altcoins, ADA price is also attempting very hard to stabalize with a strong uptrend. As the asset has been consolidating within a steep descending trend for nearly a year now, a notable flip may be pre-programmed. Yet the prices may cement within the safe zone once it tests and clears one of the crucial resistance at $0.8.  

However, after a 10% jump in the last 7 days, the ADA bulls are expected to soon nullify the bearish pressure mounted in the past couple of hours. Once the bullish momentum resume, the Cardano (ADA) price is expected to hit $0.7 quickly and continue surging until it attains $0.8. Here the path towards $1 could become pretty clear that may regain the lost grip over the bull run again. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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