Cardano ADA has been trading in the downswing for the past few months. The price fell more after the recent market crash on December 4. The trend is bearish and has been down almost 4% in the last 24 hours.
However, there is some good news for ADA investors. The ADA price may rally in the upcoming days as Cointelegraph forecasted the Cardano Price.
“Cardano (ADA) may rally by nearly 30% in the coming days as it hints at forming a classic bullish reversal pattern.”
Cardano (ADA) Price Prediction
Investors anxiously seek out Cardano price predictions to see where the crypto will go next. However, with a market capitalization of $40 billion, it is currently in sixth place among all other cryptocurrencies out there. However, some say that this ranking could change soon enough.
Cardano is at the support horizontal; this could be a great time to buy before new highs are reached. Cardano is currently trading at $1.25 at the time of writing, while the ADA price has been on a steady increase recently, yet still in the bearish trend.
There could be a bullish move in the ADA Price, and it may run towards an Average price of $1.40. A move towards $1.40 would not necessarily indicate success for investors if they’re buying at these levels; instead, we might expect prices to reach near 2 dollars.
Furthermore, According to Fxstreet,
“Cardano price has set up liquidity pools that are likely to be taken advantage of going forward. The most probable direction for ADA seems to be bullish, with on-chain metrics providing a tailwind to the claim.”