Top Cardano (ADA) Price Predictions: New Drop or Rise to New ATH?

TL;DR

• Analysts highlight a possible ADA breakout, supported by bullish chart patterns and upcoming developments for Cardano.
• However, recent whale sales of millions of tokens could negatively impact the price.

The bullish scenario

Despite the strong start to the year, the last few days have not been kind to the cryptocurrency market. The price of Bitcoin (BTC) has plummeted around 9% on a 48 hour scalewhile numerous altcoins have suffered even more substantial declines.

Cardano’s ADA is one of them, whose valuation has fallen by 20% since January 7. At the moment, is trading at around $0.91 (according to CoinGecko data), while its market cap fell Well below 35 billion dollars.

the popular X user Dan Gambardello, however, remains optimistic. Recently, the reclaimed that ADA has “one of the most bullish weekly pattern setups in crypto,” depicting an “inverse head and shoulders with an upward sloping neckline.” Gambradello assumed that an upside breakout could result in a price rally as high as $7.

Altcoin Daily also contributed. At the beginning of the year, they outlined bullish predictions on multiple cryptocurrencies, foreseeing ADA valuation reaching $6.45 sometime in 2025. It is worth mentioning that the The analyst said this goal should not be taken for granted, suggesting that “any altcoin can, in theory, go to zero at any time.“ They also warned people to invest only what they are willing to lose.

Meanwhile, Cardano is established undergo some essential developments in the next 12 months that could put upward pressure on the price of the native token. Those who would like to check out what’s on the agenda can watch our dedicated video below:

How about more recoil?

Contrary to the aforementioned bullish predictions, some factors indicate that ADA could continue to fall in the near future. Earlier this week, he X user Ali Martínez revealed that the whales have sold more than 70 million tokens in the span of 48 hours.

Such actions by large investors increase the circulating supply of ADA and could be followed by a price drop (assuming demand doesn’t keep up). Additionally, the move may discourage smaller players and trigger a more substantial selloff.