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Cryptoanalysts predict a bullish trend reversal for Cardano soon

Cryptoanalysts predict a bullish trend reversal for Cardano soon

Despite the fact that Cardano (ADA) has lost more than 50% of its value since reaching an all-time high, leading cryptocurrency experts say that a reversal is imminent for the digital asset.

In particular, renowned cryptocurrency expert Cerbull predicts that the coin's price will rise by about 15% in the near future. When he made his forecast, the currency was trading at $1.72, so a 15% rise in price would lift it to $1.97, which is just below the vital $2 threshold, but very far from the previous all-time high of $2.96 reached on September 3. “It's time to turn around a bit. You see a lot of people hate this coin and ridicule Charles for a variety of reasons (mostly for the evolution of #Cardano). We are about 50% below ATH. From here I see it going up 15%” – he wrote on Twitter. Similarly, regular trader and CEO of consulting and education platform Eight Global Michael van de Popple also believes ADA has a lot of upside, and a potential scenario for the asset if Cardano can break above some previous support levels. Cardano has not been doing so well lately, but it is on the verge of reaching a support level that could provide a decent buying opportunity, especially if we are still in the second stage of a bull market. Van de Poppet stated about the ADA/USDT pair: “In order to be bullish, we have to reverse several levels of importance here. We want to break previous support levels and make them support again”. Specifically, he singled out the $1.78 and $1.90 levels as critical levels to break through. “We have two levels here – the support level at $1.78 and the level at $1.90. As we continue to set lower lows and lower highs now, we may get a similar scenario before a reversal begins” –he said. In addition, the crypto expert advised: “If you want to enter a certain asset, you should enter when no one has interest or when most people don't like the asset. That's how markets work. I think Cardano is in that area. So yes, this is an area that you should be interested in”.

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