Cardano (ADA), a blockchain platform known for its science-based approach, is in the spotlight today.
We investigate the price forecast for ADA, with insights from our Discord environment where updates and live streams are shared regularly.
Technical analysis cardano (ADA) price
The analysts at Crypto Insiders shared the following analysis in our Discord environment on April 29. Now a few days later we see that it has played out exactly as it did. They said the following in their analysis:
“Cardano has recently experienced a significant decline, with its price falling from around $0.79 to a recent low of $0.38. This sharp downturn has made us alert to potential opportunities, because while we may see a further decline, we do not expect this decline to continue for long.
Technically, it looks like we are nearing the completion of a wave 2 in a larger Elliott Wave pattern. While it is difficult to pinpoint where exactly this will end, the current price zone has proven to be an interesting time to strengthen our position in ADA.
We have marked a green buy zone around the current range given our expectation of a strong upside move. Based on this analysis, we remain optimistic about ADA’s potential to recover and reach higher price levels.”
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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. These are therefore for educational purposes only.
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