Expert Analysts Predict Cardano Breaking $1.70

Expert Analysts Predict Cardano Breaking $1.70

Expert Analysts Predict Cardano Breaking $1.70

The crypto market is famous for its volatility. This can be clearly seen from the movement of well-known crypto assets such as Cardano (ADA).
Cardano (ADA) Faces Short-Term Slump Amid Positive Long-Term Outlook

In recent weeks, Cardano (ADA) has seen its price drop. ADA token has dropped by 21% in a month. The Total Value Locked (TVL) of ADA tokens also took a hit, dropping around 18% in the same period. However, despite the recent setback, Cardano tokens have managed to maintain significant YTD gains, surging more than 43% since October 2023.

Ali Chart, remains optimistic about Cardano's prospects. In his latest X post, he stated: “Nothing has really changed for #Cardano. $ADA is exactly where it should be, consolidating in the $0.55 to $0.80 range before breaking to $1.70.”

Despite the price decline, many investors still have a positive long-term outlook for Cardano tokens. This confidence was driven by the successful implementation of the Vasil hard fork, which introduced valuable new features such as the Plutus V2 fee model.