© Reuters. Cardano at $ 30? Analysts project upcoming ADA goals
Seen as one of the most promising blockchain projects, Cardano (ADA) could take a big leap in the next few years, at least according to one famous analyst.
Well-known cryptocurrency trader @CryptoCapo even projected that the native token of the Cardano network could one day hit $ 30.
The famous analyst is very optimistic about Cardano. In a post, he alerted his more than 130,000 Twitter followers to how promising ADA appears to be:
“Friendly reminder in case you forget how upbeat ADA sounds.”
As highlighted in the chart shared by the trader, there are two potential targets for ADA. The first would be in the short and medium term, between prices of $ 3 and $ 4.
The second would be a long-term projection, with the token likely to hit the incredible $ 30 mark.
This would symbolize an increase of more than 1,750%. While the ADA has come a long way toward that milestone, it’s worth noting that the cryptocurrency has appreciated more than 10,000% since early 2020, jumping from roughly $ 0.02 to its all-time high of $ 2.45.
CryptoCapo is so confident in Cardano’s future success that it even announced that it had sold 75% of its equity in (ETH), which could also increase this year, to acquire more ADA tokens.
He also believes that ADA has the potential to become the second largest cryptocurrency in the world by market value.
ADA needs to regain significant short-term support
In an exclusive BeInCrypto analysis, Valdrin Tahiri highlights that ADA has been in a downtrend since May 16, after hitting its highest price to date.
On Tuesday, June 8, the cryptocurrency ended up falling below an uptrend line that had been used as support since May 20, below $ 1.40.
Despite the rally observed in the last 24 hours, ADA would have to reestablish itself above $ 1.70 to regain that line as price support and record new highs again.
At the end of this report, the token was trading at $ 1.60.
The post Cardano at $ 30? Analysts Projecting ADA’s Next Goals was first seen on BeInCrypto.
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Cardano at $ 30? Analysts Project Next ADA Goals By BeInCrypto