$ADA Price Predictions for Cardano (ADA): Where is the Currency Headed with the Recovery of the Altcoin Market?
The Cardano (ADA) currency has shown notable movement, surpassing its 50-day moving average at $0.6880, and rising by more than 13% over the week, supported by:
Positive news regarding the trade war between the U.S. and China (50% reduction in tariffs).
Bitcoin breaking the $93,000 level, which boosted momentum in altcoins.
The famous analyst Ali_charts predicts that ADA will reach $0.77 after breaking the flag pattern, while some believe that surpassing the resistance of $0.75–$0.77 could open the door for a return above $1.10.
On the other hand, analyst Deezy predicts a significant rise that could take the price of ADA to $7!
However, not all opinions are optimistic:
Some analysts believe that macroeconomic factors do not support the launch of the altcoin season yet.
Stable inflation and a weak U.S. dollar do not encourage investors to enter high-risk assets.
Rising bond yields and weak stocks increase caution in the market.
In summary:
Despite technical bullish signals, the global economic environment is still not conducive to a strong upward wave. Caution is required, along with monitoring technical levels and updates on monetary policy.
