Price Analysis: What is Next for Cardano After Its Current Price?
2022.05.30 18:51
Price Analysis: What is Next for Cardano After Its Current Price?
- Cardano follows a trendline support.
- Crypto analysts say that ADA might handle a floor price of $1.46 throughout 2022.
- Currently, the coin is at a $0.52 price.
Today, many cryptocurrencies show a green signal and follow a slight trendline support. Among the coins that are on an upswing are Cardano (ADA), Ethereum (ETH), Polkadot (DOT), Dogecoin (DOGE), and many more.
While focusing on Cardano, it has been following an uptrend since May 28. If the coin goes ahead progressively, it might cross its support level of $0.74. Furthermore, ADA fell from the cliff on April 5, making a plunge until it surged on May 4 and 5. But as the global crypto market worsened, ADA also steeply slid. However, like other coins, the price of ADA also soared on May 13, followed by frequent ups and downs.
ADA/USDT one-day Chart (Source: TradingView)
As shown in the ADA/USDT one-day tradingchart, the coin moved through two consecutive downfalls, followed by a surge. However, after the second consecutive fall, the coin is on the trending track.
In the past month, TradingBeast.com predicted that ADA would develop by 10% in long term or until 2022, with a normal floor price of $1.46. After this, it was predicted for a fall in September and then a surge of $2.70 by 2025. However, the $1.46 floor price is the value that ADA tapped in January 2022. If the coin needs to reach this price, it has to gradually hike from its current price, but not an abrupt increase.
More importantly, in another prediction, TradingBeast reported that ADA is expected to reach $0.71 in the early days of June 2022. The maximum expected price would be $0.89, while the minimum price is $0.60.
Currently, Cardano is registered at $0.52, with an 11.4% hike in the past 24 hours.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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