Trend Rider is a seasoned analyst who has made a new prediction in the volatile world of cryptocurrency. His latest predictions have sparked excitement among Cardano enthusiasts. According to his thorough review, this token could be primed for an explosive surge. It may even reach a price of $3 per unit.
Trend Rider who regularly shares his astute insights on X, the former Twitter, believes that if the past is a guide, Cardano could be on the brink of a “decisive ultimate support test.” A positive outcome here would pave the path for a dramatic upward shift. According to him, the same thing happened in October 2020 when Cardano’s price dropped to $0.10 and then soared to $3 within a short time.
Google News: Follow Us! Trend Rider also documented that Cardano was currently experiencing a bullish Relative Strength Index crossover (RSI), and subsequently retest. The token could be preparing for a new skyward jump if this condition is confirmed. A RSI cross-over is often a good indicator for ADA bull or bear markets.
In a second post, Trend Rider outlined Cardano’s dependence on its present support levels. He said that ADA was on a very precarious ledge. If it fails to hold its current level, the price could quickly fall to $0.25. If Cardano is able to maintain this level of support, this could be the beginning before it reaches its eventual climb up to $1.
Cardano’s future, in line with Trend Rider’s previous predictions, is ping pong-like dependent on Bitcoin’s movements. Bitcoin’s regaining its footing over $65,000 would have a powerful ripple effect and give altcoins a boost, such as Cardano. He warned that if Bitcoin continues to fall, it could lead to a scenario similar with a bear.
Alan Santana, a crypto analyst from San Francisco, shared some optimism in this swirl of changing predictions. Santana, who was aware of the frustration felt by ADA investors, said that Cardano’s recent negative trend would not last indefinitely. Santana remained optimistic despite the negative narrative and predicted that Cardano will turn around in 2024.
Santana said that those who are on the sidelines might want to consider jumping in now and riding the bullish wave. He marked the range of $0.40-$0.45 as a favorable buying window for the long run. In his opinion, this range would be Cardano’s main support line.
Data from CoinMarketCap confirms that Cardano is currently trading at $0.45, and it has experienced a drop of almost 2% over the past 24 hours.
The crypto-market is unpredictable and volatile. Before making any investment decision, investors are advised to do extensive research and consult with an advisor. Every investment comes with its own set of risks, and the investor takes these risks at his or her discretion.