Home
News
Renowned crypto analyst ALI shared its prediction about the cardano on social media plaform X stating ” based on historical trends, it appears Cardano is gearing up for a strong and upward bull run.”
He also added the recent 50% drop in price faced by Cardano (ADA) over the last month could actually be seen as a potential golden opportunity. Let’s delve further into the details and examine why now could be an ideal time to consider buying the dip in ADA!
Decoding The Analyst Forecast For Cardano (ADA)
In 2019, the price of Cardano remained stable within a parallel channel, indicating that the bear market was coming to an end.
After a period of little change, the value of $ADA surged by 75% and broke out of the channel. However, it then experienced a correction of 56% before setting the stage for an impressive bull run of 4,095%.
Source: ALI_Charts
In 2023, a comparable event occurred where #Cardano remained range-bound in a parallel channel, indicating the conclusion of a bear market. Subsequently, $ADA broke out of the channel and experienced a 72% surge after a period of stagnation.
Presently, ADA has undergone a price correction of 50%, paving the way for a remarkable bull run in the future.
It’s worth noting that although history doesn’t necessarily repeat itself, it often bears similarities to past events. With this in mind, it may be wise to prepare ourselves for the future of Cardano.
It’s important to recognize that the recent price correction could potentially be one of the final chances to invest in $ADA at a lower price point.
Cardano (ADA) Price and Volume On The Decline; Will It Recover?
According to the sentiment graph of price, the trading volume has dropped from $2.12 Billion to $321.46 million since the beginning of March, and the price has also dropped tremendously with trading volume.
The trading volume has dropped by 50% in a week and the price has declined by more than 80%. If the trading volume falls, it may leave a negative impact on the price. However, ADA attracts buyers at the lower level may surge higher.
Cardano (ADA) Social Metrics Looking Weird
The Santiment graphs showing social dominance and social volume have remained stagnant for the past few months despite the price and volume drops.
This indicates that despite the price drop, there has been no significant change in the level of awareness and information related to Cardano on social media platforms such as X, Instagram, and Telegram. However, if there is an increase in these graphs, it might have a positive impact on the price of Cardano.
Summary
Renowned crypto analyst ALI shared his prediction about Cardano (ADA) on social media platform X stating that based on historical trends, it appears Cardano is gearing up for a strong and upward bull run. He also added that the recent 50% drop in price faced by Cardano over the last month could be seen as a potential golden opportunity.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
