Cardano price forecast: ADA with 40 percent price potential this week

Cardano’s course is extremely weak for investors right now. Last Friday, the altcoin fell as low as $0.33. Thus ADA/USD has reached new lows this year and has clearly fallen below the minimum of 0.4 dollars since May this year. Will the downward slide for Cardano continue or is a sharp increase now expected in the short term?

Can Cardano jump to $0.6 now?

Technical analysis on the daily chart shows that ADA/USD broke from what should have been a bullish chart pattern on October 21st. The Cardano course placed this formation of the falling wedge on May 9, 2022 and tested the descending resistance line and support zone several times over the past few months.

Obviously, the breakout below is a bearish event, but ADA/USD managed to get back into trading yesterday. This is not a guaranteed correction, but a small fake move that would allow long positions to be liquidated from the market. Such movements can be observed repeatedly on the crypto market. In principle, however, a fake down should be interpreted as a twist. Such a move is often quickly followed by a rise in the opposite direction.

Also, according to technical analysis, the falling wedge is actually a bullish pattern and a breakout to the upside is more likely than a downward correction. If ADA/USD manages to break the resistance of the formation at around $0.37 and confirm it with a retest as support, this would be a very supportive sign. The technical price target of the breakout is more than $0.6 and buying Cardano would give a huge return of more than 40 percent in the short term.

A Fed rate hike of 1 percent could trigger a massive crash

This bullish situation could happen as early as this week at most. However, the chart pattern theoretically allows the price decision to be made until November 10, 2022. The presentation of the next interest rate hike by the US Federal Reserve on November 2 could play a role in the decision too. If an interest rate hike of 0.75 percent does materialize, as expected, the market is likely to take a more neutral view on this, as this hike has already been priced into the market.

Something special is coming in November pic.twitter.com/arqIPdt8yT

— Charles Hoskinson (@IOHK_Charles) October 22, 2022

If, on the other hand, the Fed breaks with the interest rate policy of recent months and reduces the rate hike to just 0.5 percent or less, for example, this would surprise the market and it could stimulate the strong pump. Of course, investors should also consider the possibility that the price could drop significantly if even a 1 percent interest rate hike occurs or if the central bank announces further future measures to slow the strong inflation and return to the target level between. 2 and 3 percent attributed.

But even if the bullish situation happens and the price rises to more than $0.6, it is likely that many buyers of the cryptocurrency will remain in the red with their investment. You just have to keep in mind that the ADA token cost almost ten times more a year ago at up to $3.1. The correction from the highest level is still 88 percent. ADA was last listed at such low levels in January 2021. It is well known what followed, a price explosion of thousands of percent within a few months.

The 1 dollar mark for ADA is not expected until 2025

Is something like this possible again and with the current prices now is the best time to buy Cardano? Or do investors have to expect even lower prices in the future and should they invest in new cryptocurrencies like the IMPT token?

For a price forecast, it is worth taking a closer look at the current estimates by analysts on the price of Cardano.

Buy now equals the Digital Coin Price assessment. Because the analysts are convinced that the ADA token will probably not be as cheap in the future as it is now. A small increase of up to 0.44 dollars is already expected for the current year. The minimum price of 0.31 dollars is almost at the current low point from last Friday. According to this assessment, the downside is therefore low.

The price target for 2023 is $0.65 and for 2024 $0.85. In the next Bitcoin bull cycle, which, according to historical data, could begin after BTC halves in 2024, Digital Coin Price expects the ADA/USD rate to be more than 1 dollar again in 2025. D However, it could take until 2030 to double again to $2. The upside potential is rated as limited overall and, according to the analysts, Cardano’s course would not lead to the levels reached in the 2021 bull market.

The analysts at Coin Price Forecast are even more cautious. Their estimate says ADA can still manage a 29 percent increase this year. However, only modest price increases are expected over the next few years. According to this opinion, Cardano could only reach the level of 1 dollar again in seven years. Until 2034, the forecast is still very cautious with a maximum price of 1.32 dollars.

Analysts at Wallet Investor have no buy recommendations for ADA. They see the price of Cardano facing another price slide for the foreseeable future. According to his forecast, the altcoin will see another 95 percent crash within the next 12 months. No improvement is expected here until 2027, so investment in ADA would not be worthwhile.

The price of Cardano is expected to increase by 3,000 percent from $11.50

However, Wallet Investor is quite alone in its bearish view. Financial blog Changelly.com’s forecast, on the other hand, is very positive. Accordingly, ADA will test the $0.4 mark by the end of the year and may rise to more than $0.6 in 2023. For 2025, the analysts expect a bigger jump in the price, in which the price of Cardano can go over the $1 mark.

The stable upward price movement could take ADA to a new all-time high in the next few years. A price of more than 4 dollars is predicted for 2028. But that’s not all. According to the estimate, the price of Cardano could even rise to more than $10 by the early 2030s and peak in the $11.50 area.

If this forecast is correct, there would be a good chance of a strong return on investment in Cardano right now in the coming years. On the most bullish view, the current price could explode up to 3,185 percent.

Cryptocurrencies are a highly volatile, unregulated investment product. Your capital is at risk.