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Cardano Price could hit fresh highs! ADA Price to Hit $4 Says deVere Group CEO Nigel Green

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The broader cryptocurrency market seems to be clearing out weak hands as the turn down keeps wreaking havoc on the market. The total market value now stands at $1.9 trillion, down from a seven-day high of $2.2 trillion, recorded on September 16. 

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Currently, The largest digital asset Bitcoin price is trading bearishly, recording a price decline of 2 percent, and ETH is trading in the same trend trading at $2,856.10 with a 5% plunge. On the other hand, despite experiencing a crash, Cardano Price was able to recover quickly.

Also Read : Cardano, Solana and Ripple Price Quickly Regained a Momentum! Know the Upcoming Future Trend

Will Cardano Price Rebound Above $2.4?

The altcoin price dropped below $2 but there was a quick recovery and ADA price is now trading at $2.04. It seems that the crypto has been able to maintain strong support despite being unable to break the resistance. However, traders need to watch out if ADA prices will clear this storm safely or not.

At press time the altcoin price is just above the major support level. If the price drops below $1.98, this could bring the defensive zone at $1.70-$1.84 into play, which could further stoop to $.150.

TradingView Chart

As per the above chart, ADA has taken shape within an inverse cup and handle – A bearish pattern that triggers a breakdown in value. However, the handle is yet to develop.

On the other hand, to start afresh rally ADA Price must slice over the $2.4 level. However, seeing the current market trend we might expect that the price will consolidate with minor corrections for a few days before a breakout.

Also Read : Cardano Token Burn- A Strict NO for ADA Burning! Hoskinson Calls it a Greedy Move

ADA Price to Hit $4 by End of 2021 Predicts Analyst 

Nigel Green, head of deVere Group which is one of the leading independent financial advisory companies, seems to be bullish on Cardano. In a recent interview with Business Insider, Nigel said that the third-largest cryptocurrency could soon attain new highs and eventually reach $4 by the end of the year. 

He also previously predicted that the ADA price would hit $3. Nigel believes that Cardano Price will successfully rebound along with other top cryptocurrencies.

Also Read : A Detailed Guide on Cardano Blockchain! The Third Generation Blockchain Network

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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.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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