Forecast $ADA : growth will resume
At the time of writing this analysis, ADA is trading at $0.8995, having lost more than 15% in price over the last 24 hours. A bullish flag has formed on the four-hour chart of the altcoin. Typically, this pattern suggests an imminent start of a new wave of growth.
This means that Cardano needs to break out of the "bullish flag" (i.e., a period of consolidation between two rallies) to begin its recovery.
Thus, in a favorable scenario, bulls will be able to raise the price of the cryptocurrency above $1.15. Then the road to $2 will be open for ADA. However, if sellers seize the initiative, the altcoin may fall even further — to $0.85 and below.
