Cardano (ADA) Price Prediction: Further Fall or New Highs?

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The current market scenario for Cardano (ADA) can be viewed from two very different perspectives. Here is an analysis of these two bullish and bearish scenarios:

Bullish scenario

Despite Cardano (ADA)’s recent poor performance, especially in the past few days of decline, there are still some bullish voices in the market. These bullish views are based on technical aspects and the future development potential of the project.

Technical: Inverted Head and Shoulders Pattern

According to the analysis of X user Dan Gambardello, Cardano’s weekly chart presents an “inverted head and shoulders pattern”, and the neckline of this pattern is sloping upward. This pattern is often seen as a bullish technical signal, representing a potential price reversal. If ADA breaks through the neckline and maintains the upward trend, it may usher in a significant rise.

Gambardello believes that if this pattern is confirmed, the price of ADA has the potential to rise to $7, which will be a considerable return.

Altcoin Daily’s optimistic prediction

Altcoin Daily is also optimistic about Cardano’s future performance. They proposed a target price of $6.45 for ADA at the beginning of this year and expect this target to be achieved sometime in 2025.

Although they warned that any altcoin could experience wild volatility or even fall to zero, this also shows that ADA is still considered a promising project, especially if its fundamentals and technicals continue to improve.

Important developments in the next 12 months

Cardano will undergo a series of key developments in the next 12 months. These developments may bring more use cases and applications to ADA, which in turn will put upward pressure on prices. For example, further developments in the fields of DeFi, NFTs, and smart contracts for Cardano may bring more demand for its tokens, thereby driving up prices.

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