With a lot of eyes on the up-and-coming Ethereum competitor, Cardano, a lot of investors are still dancing around whether Cardano price prediction to believe? Despite the Alonzo update, the price of Cardano has still fluctuated and is currently trading at $2.12. Will the price of Cardano go up or down?
Cardano Price Prediction
As of the moment, with a lot of eyes on Cardano, the consensus regarding whether the cryptocurrency is bullish or bearish remains mixed. While some researchers believe that ADA remains bullish, other researchers say otherwise. According to Robert Kiyosaki, author of Rich Dad Poor Dad, a market crash could be coming soon, and cryptocurrency is not exempt.
It is important to do your own research or DYOR before investing in any crypto asset. Learning how to read indicators is also extremely important when it comes to trading. For long-term HODLers, however, looking at the asset's potential, roadmap, investors, supporters, and plans are also equally important.
What is Cardano?
According to CoinGecko, Cardano is a decentralized platform that allows complex programmable transfers of value in what was noted as a secure and scalable fashion. This is reportedly one of the first blockchains that have been built on the highly secure Haskell programming language.
Cardano is also now developing its own smart contract platform that currently seeks to deliver much more advanced features compared to any protocol that was previously developed. It is also now the very first blockchain platform to be able to evolve out of a certain scientific philosophy as well as a research-first driven approach.
Is Cardano Bullish?
There are two strong beliefs in Cardano, either it is bullish or bearish. An article by CryptoGlobe references a popular pseudonymous analyst trader by the name of Crypto Capo that is currently bullish on Cardano.
According to CryptoCapo's Twitter post, ADA's bottom was at $1.90, and the cryptocurrency is now set to go all the way up to $10. CryptoCapo previously noted that the account's macro view on Cardano is bullish, previously noting that it would "probably" go to $10 or higher this 2021. Currently, CryptoCapo comes with a more firm statement noting "now all the way up to $10."
Is Cardano Bearish?
Not everyone, however, shares the same sentiments when it comes to Cardano. According to FXStreet, Cardano price prediction is currently on a downtrend and going for $1.893. The analysis points towards a bearish triangle still intact and that people should expect a retest and even a possible break of the base.
It was noted that a potential break below $1.893 could even open up room for Cardano to move even lower towards the $1.677 price point. The article also notes that Cardano price will actually hurt bulls that are currently looking for an entry point. There are high hopes for Cardano as of the moment, with opinions split as to whether or not it will be able to challenge Ethereum 2.0.
Related Article: Crypto Watch - Cardano $ADA Alonzo Update | Price Drops Down
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Written by Urian B.