Cardano (ADA/USDT) Price May Not reach $1 So Soon
After a long period of decline, the Cardano price trend is showing signs of becoming bullish. The ADA token has been falling for over a year without any indication of recovery. The price dropped into a liquidity zone, where buyers were scarce, hindering growth in 2020-2021.
However, with the new trade set-up, the ADA price is trying to break out of the bearish pattern and increase significantly. Many believe that 2023 will mark a change in trend and that the Cardano token price will increase at least slightly this year.
Since reaching new highs and failing to sustain a significant upward trend, the ADA price has been largely bearish. However, the price has been trading within a narrow range during H2 2022 and is expected to experience a strong bull run soon. After breaking out of the inner parallel channel, the ADA price is predicted to rise beyond $0.40 to $0.42, which is the first target for the upcoming rally.
The second potential target for growth is around $0.80, which is expected to be reached by the end of 2023. However, bears have a strong grip around the $0.9 region and a significant rejection could cause the price to drop as low as $0.23. It is expected that the Cardano (ADA) price will remain bearish for an extended period, possibly even falling to $0.12 in 2023.
However, with the new trade set-up, the ADA price is trying to break out of the bearish pattern and increase significantly. Many believe that 2023 will mark a change in trend and that the Cardano token price will increase at least slightly this year.
Since reaching new highs and failing to sustain a significant upward trend, the ADA price has been largely bearish. However, the price has been trading within a narrow range during H2 2022 and is expected to experience a strong bull run soon. After breaking out of the inner parallel channel, the ADA price is predicted to rise beyond $0.40 to $0.42, which is the first target for the upcoming rally.
The second potential target for growth is around $0.80, which is expected to be reached by the end of 2023. However, bears have a strong grip around the $0.9 region and a significant rejection could cause the price to drop as low as $0.23. It is expected that the Cardano (ADA) price will remain bearish for an extended period, possibly even falling to $0.12 in 2023.