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156 shares, 369 points

Popular analyst evaluated Cardano (ADA)’s upside potential in the coming months. Popular crypto channel Coin Bureau reveals the reasons why the price of Cardano (ADA) may rally and hit all-time highs in the coming months. Details at Kryptokoin.com .

How high can Cardano go?

Cardano hit an all-time high of $3.10 at the beginning of September, but has since suffered a severe price correction of more than 59%. The seventh-ranked cryptocurrency by market cap is currently trading at $1.26. Coin Bureau’s analyst, nicknamed Guy, says there are several reasons why Cardano is still bullish. On the subject, the analyst says:

The good news is that there are a number of institutional funds that invest in ADA, such as Grayscale’s Digital Large Equity Fund, and a few of these funds seem to have been accumulating ADA over the past few months. Many Cardano DApps [decentralized applications] are also scheduled to be deployed in the coming months, and these are likely to generate the demand ADA needs to reach its previous all-time high. Finally, ADA’s long-term technical data shows that it could rally as high as $4 in the coming months, assuming it can break through this $1.70 price resistance zone.

Guy notes that if the ADA fails to exceed $1.70, a head-and-shoulder model can create a price structure that is used to determine train reversal. Such a reversal could push ADA back to 2020 lows below $0.30. “I still doubt that will happen because Cardano has a lot of upcoming milestones that could easily push ADA to all-time highs,” the analyst says.


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