Price Analysis

Cardano Price Discovery Mode! How High Will ADA Price Reach This Year?

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Cardano has been making headlines in recent weeks as the altcoin prepares to roll out the Alonzo upgrade, which will bring smart contracts to its network.

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Cardano Price has seen significant gains in recent months, reaching a new all-time high. It recently reached an all-time high of $2.57, making it one of the best-performing cryptocurrencies among the top 10. Its early upside bounce appeared to be mostly driven by a comparable explosion in the cryptocurrency market.

Cardano Price Eyes $10-$20

Popular Cryptocurrency Analyst Michael van de Poppe, who believes ADA price has the potential to surge mapped the next Target levels. Van de Poppe tells his 114,000 YouTube subscribers that it is ready for $10 to $20 dollars. He looks at the price from a technical perspective as he predicts the highest its price can go in the current bull cycle. 

According to Poppe, the recent high will be the bottom of the next correction. While comparing bitcoin price action he says that Cardano can easily target the $10 to $20 mark. In case, if the bears take control and the price eventually drops below $2 then the support lies at $1.75 and $1.43 regions.

Also Read : Analyst Predicts XRP Price To Hit $20-$30, Is Lawsuit Settlement & Relisting On The Cards?

In a larger picture, the next levels he marks are $3.50 and $5, which are based on recently made highs and lows. He mentioned that there was a lovely retest following the massive run while looking at ADA/BTC.

Cardano Price

On the chart we can spot a Symmetrical triangle – The price is creating higher lows and lower highs. – Also, the price is above the ALL-TIME HIGH level from 2018, which is very bullish. Cardano made a huge rounding bottom or cup and handle on the weekly time frame. As per the chart, the Profit target is 0.618 FIB extension, which is around 30 USD – 1000%.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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