Cardano

Rally

Bitcoin

<p>Crypto analysts have given varying opinions on the <a href="https://bitcoinist.com/ada-bitcoin-cardano-founder/" rel="nofollow">Cardano (ADA) future trajectory</a>. One analyst predicts that the crypto token could enjoy an <a href="https://bitcoinist.com/analyst-foresees-major-breakout-for-bitcoin/" rel="nofollow">unprecedented price rally</a>. On the other hand, another analyst holds a bearish view and predicts that Cardano could experience a significant price crash.&nbsp;</p> 
<h2 id="cardano-to-enjoy-a-12-000-rally">Cardano To Enjoy A 12,000% Rally</h2> 
<p>In a <a href="https://www.tradingview.com/chart/ADAUSDT/RvLWn44B-ADA-Don-t-Miss-The-Entry-Of-A-Lifetime/" rel="nofollow">post</a> on Tradingview, crypto analyst Fiery Trading raised the possibility of <a href="https://bitcoinist.com/cardano-dogecoin-shiba-inu/" rel="nofollow">Cardano</a> rising to as high as $40 and even higher. The analyst highlighted a parallel channel and noted that Cardano could reach the top of this channel in the <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">coming bull run</a>, which would cause the crypto token to rise to $40.&nbsp;</p> 
<img loading="lazy" decoding="async" class="wp-image-626280 size-medium" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano.png?w=460&amp;resize=460%2C246" alt="Cardano" width="460" height="246" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano.png?w=460&amp;resize=460%2C246 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
<p>Fiery Trading admitted that Cardano rising to $40 is not a “likely outcome” but claimed that the risk-reward ratio is worth the risk. He added that <a href="https://bitcoinist.com/cardano-ada-whales-13-84-billion/" rel="nofollow">Cardano’s current price</a> is the “entry of a lifetime” and advised crypto investors not to miss out on it.&nbsp;</p> 
<p>In another <a href="https://www.tradingview.com/chart/ADAUSDT/hqbamZ4f-ADA-s-PERFECT-Entry-Is-Here-To-The-Moon-And-Beyond/" rel="nofollow">post</a>, Fiery Trading again hammered on Cardano’s current price level as an entry of a lifetime. He claimed that this entry is a “no-brainer” as long as Cardano keeps trading within that channel. Meanwhile, the crypto analyst highlighted more conservative price targets, pointing out $25 as another price level Cardano could reach, while he mentioned $3 as a target for “more defensive traders.”</p> 
<h2 id="ada-could-drop-to-as-low-as-0-24">ADA Could Drop To As Low As $0.24</h2> 
<p>Crypto analyst Swallow Premium gave a <a href="https://bitcoinist.com/cardano-ada-is-flashing-bearish-signs-as-rally-stalls-factors-to-consider/" rel="nofollow">bearish outlook for ADA</a>. He noted that the crypto token has finally broken the liquidity zone at around $0.40 and now risks dropping to as low as $0.24. The crypto analyst predicted that Cardano could drop to that price level within a week or two.&nbsp;</p> 
<p>However, <a href="https://www.newsbtc.com/news/cardano/cardano-developments-ada-3/">crypto analyst Sebastian</a> suggested that Cardano might not drop below its current price range. He <a href="https://x.com/Av_Sebastian/status/1805460079447052451" rel="nofollow">stated</a> that the dump was over and that Cardano and the broader crypto market should enjoy a bounce from their current price level. He noted that the magnitude of the bounce will determine whether or not there may be more downside for ADA.&nbsp;</p> 
<p>The crypto analyst further stated that the next move the market should look forward to is seeing higher lows and higher highs. He claimed that the next target for <a href="https://bitcoinist.com/cardano-ada-0-41-big-money/" rel="nofollow">Cardano is $0.40</a> and that the crypto token needs to rise above it and stay there.&nbsp;</p> 
<p><a href="https://bitcoinist.com/cardano-1800-price-explosion-12/" rel="nofollow">Crypto analyst Trend Rider</a> also noted that there are “quite a few bounce signals” on Cardano’s daily chart. He stated that Bitcoin needs to stop bleeding for ADA to recover. Bitcoin’s recent drop below $60,000 contributed to the significant declines that altcoins like Cardano experienced.&nbsp;</p> 
<p>At the time of writing, Cardano is trading at around $0.38, up almost 4% in the last 24 hours according to <a href="https://coinmarketcap.com/currencies/cardano/" rel="nofollow">data</a> from CoinMarketCap.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/MmNNtHiB/" alt="Cardano price chart from Tradingview.com" width="3286" height="1576">

Analysts Battle Over Cardano’s Next Move: 12,000% Rally Or 50% Crash?

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