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Top Cardano (ADA) Price Forecasts: Further Decline or a Rise to a New ATH?
Cardano’s ADA has been experiencing a tumultuous start to the year, with its valuation plummeting by 20% since January 7. The cryptocurrency currently trades at around $0.91, accompanied by a market capitalization below $35 billion. Amidst this uncertainty, some analysts have weighed in on potential price movements for ADA.
On one hand, popular analyst Dan Gambardello has been bullish on the asset, highlighting an “inverse head and shoulders with upward sloping neckline” formation. Such a breakout to the upside could potentially lead to a significant rally, with Gambardello even suggesting a price target of $7 in the future. Similarly, Altcoin Daily presented their own bearish outlook for ADA, forecasting a valuation of $6.45 sometime in 2025.
In support of these optimistic views are the upcoming developments scheduled for Cardano over the next year. As reported by this publication, these updates could generate upward pressure on the price of ADA.
Source: cryptopotato.com
