fxs_header_sponsor_anchor

There is still hope for Cardano price after 88% nosedive from all-time high

  • Cardano is identified by analysts as a bear market opportunity and considered an under-valued altcoin. 
  • Despite a massive drop in altcoin prices, analysts believe Cardano price could recover from its slump. 
  • A leading crypto analyst has set an upside target of $10 for Cardano price and reveals a bullish outlook on the altcoin. 

Cardano price has suffered an 85% drop from its all-time high. The altcoin is currently considered undervalued and analysts have predicted a recovery in Cardano. 

Cardano remains undervalued at $0.46

The crypto market is hit by a bloodbath, driving altcoin prices lower. However, Cardano price has recovered from a slump and analysts believe ADA is a bear market opportunity. 

After slipping 85% from its all-time high, Cardano price is on track to make a comeback. Narmin, a leading crypto analyst believes Cardano price analysis shows rising signs as the market reveals upside potential. Bulls are likely to gain control of Cardano price. 

Analysts have noted the rising fluctuations in Cardano price and believe the altcoin could make a comeback despite its recent slump. 

Analysts note that Cardano price could hit a $10 target within a few market cycles as the crypto ecosystem is currently hit by a bloodbath. Cardano’s market capitalization is currently $15.7 billion and the 4-hour price chart illustrates the bullish potential in the leading altcoin. 

This indicator reveals bullish potential in Cardano

Cardano price chart currently reveals that the altcoin is currently testing the upper limit of Bollinger bands. $0.50 is the strongest resistance for Cardano price and the lower limit of $0.43 serves as a support for the altcoin. 

ADAUSD price chart

Despite losing 65% of its Total Value Locked (TVL), Cardano price continues to remain undervalued. Dan Gamberdello, a crypto analyst and founder of CryptoCapitalVenture.io believes Cardano price is on track to hit $10. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.