Cardano (ADA) has entered a slump over the last few weeks. The asset is down by 4.4% in the daily charts,11.4% in the 14-day charts, and 17.6% over the previous month. Nonetheless, ADA has maintained its gains in the year chart, rallying 51.5% since April 2023.
Also Read: Cardano Bull Says ADA $1 Price Threshold Is Imminent: Here’s Why
However, despite the correction, ADA might be on the verge of breaking out.
According to prominent crypto analyst Ali Charts, Cardano (ADA) is “exactly where it should be.” The analyst says that the asset is consolidating between $0.55 and $0.80. Ali Charts adds that ADA could soon break out to $1.70. Reaching $1.70 from current levels would translate to a growth of about 193%.
Also Read: Cardano Founder Unveils Major Upgrade: Can ADA Hit $3.10?
Also Read: Cardano Could Surge Before A Slump: Analyst Shares Crucial ADA Support
According to Changelly, Cardano (ADA) might not hit the $1 mark this year. The platform predicts ADA to hit a maximum price of $0.689 in 2024, which it may attain in June. According to Changelly, ADA could surpass the $1 mark in August 2025, and hit the $1.70 mark in July 2026.
CoinCodex anticipates Cardano’s (ADA) price to consolidate at current levels, reaching a maximum price of $0.62 this month.
Telegaon, on the other hand, predicts ADA to hit a maximum price of $2.15 in 2024. Reaching $2.15 from current levels would translate to a growth of about 270%. However, Telegaon does not clarify the month when ADA could reach this prediction.
There is also a possibility that the cryptocurrency market will enter another bull run later this month, fuelled by Bitcoin’s (BTC) halving. If the original cryptocurrency reclaims its all-time high, other altcoins like Cardano (ADA) may follow suit.
Cardano (ADA) has entered a slump over the last few weeks. The asset is down by 4.4% in the daily charts,11.4% in the 14-day charts, and 17.6% over the previous month. Nonetheless, ADA has maintained its gains in the year chart, rallying 51.5% since April 2023.
Also Read: Cardano Bull Says ADA $1 Price Threshold Is Imminent: Here’s Why
However, despite the correction, ADA might be on the verge of breaking out.
According to prominent crypto analyst Ali Charts, Cardano (ADA) is “exactly where it should be.” The analyst says that the asset is consolidating between $0.55 and $0.80. Ali Charts adds that ADA could soon break out to $1.70. Reaching $1.70 from current levels would translate to a growth of about 193%.
Also Read: Cardano Founder Unveils Major Upgrade: Can ADA Hit $3.10?
Also Read: Cardano Could Surge Before A Slump: Analyst Shares Crucial ADA Support
According to Changelly, Cardano (ADA) might not hit the $1 mark this year. The platform predicts ADA to hit a maximum price of $0.689 in 2024, which it may attain in June. According to Changelly, ADA could surpass the $1 mark in August 2025, and hit the $1.70 mark in July 2026.
CoinCodex anticipates Cardano’s (ADA) price to consolidate at current levels, reaching a maximum price of $0.62 this month.
Telegaon, on the other hand, predicts ADA to hit a maximum price of $2.15 in 2024. Reaching $2.15 from current levels would translate to a growth of about 270%. However, Telegaon does not clarify the month when ADA could reach this prediction.
There is also a possibility that the cryptocurrency market will enter another bull run later this month, fuelled by Bitcoin’s (BTC) halving. If the original cryptocurrency reclaims its all-time high, other altcoins like Cardano (ADA) may follow suit.