Price Analysis

Cardano Traders On Tenterhooks! Will ADA Price Hit $10?

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Highlights:

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  • ADA price remains trapped within the tight consolidation zone, yet the asset is poised to soar high.
  • Traders are hurt over Cardano’s stagnant move, yet the price plot remains bullish. 

Cardano’s price appears to be afloat within a rangebound stage between $1.95 to $2.15. The price made an optimistic move reaching $2.368 last week and then faced rejection to yet again strengthen its zone at $2.05. On the other hand, traders seem to be panic over the asset’s stagnant move, as altcoins such as SOL, LUNA, and AVAX buckle up to dethrone ADA. 

With the breathtaking move, Solana’s price outperforms Cardano by snatching the 5th position. Besides, Avalanche and Luna make intense moves to get under the top 10 at the earliest. In the meantime, there appears to be a major migration occurring from the ADA community.

Cardano Price Remains Calm Before the Storm!

The odds in the latest price outlook remain progressive for bulls. Once the ADA price clears that barrier, the price would easily rise to new ATH. The majority of the community and netizens who hold a strong belief in the vision of the altcoin favor the price move. As per the proponents, the people who are hurt over the altcoin’s stagnant move are just bought into the hype, and they’re dumb. 

The ADA price made modest moves over the past year. The price has seen exponential growth from $0.03 to $2.15 at the press time over the year. Yet the move has seen several ups and downs in the rally. Moreover, Cardano proponent Darren N highlights the same in his latest tweet. He urges the followers to hold the altcoin and have sensible expectations in the short term. Further, the proponent is hopeful of price to claim newer highs with inevitable barriers. 

Collectively, the co-founder of the platform Charles Hoskinson has been optimistic about the project’s roadmap set for 2022. He raised his bars high and aims to deliver futuristic technology to the users in the coming days. However, the Cardano has shown identical price moves in the past as well, and its rally was phenomenal each time. 

In addition, crypto influencer Ash WSB predicts ADA price to hit $6 by the year’s end. Yet the latest price action appears to be pretty bland, officials and proponents are expecting the price to moon-soon.

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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.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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