Logo
Cardano Ecosystem

BitcoinEthereumNews

04/14/2021

·

730 views


Cardano Price is Undervalued, Will Reach $10 This Year!

The post Cardano Price is Undervalued, Will Reach $10 This Year! appeared on BitcoinEthereumNews.com. Well-known Crypto trader and strategist Justin Bennett has opined Cardano Price is still undervalued and the bull run is not over yet. Advertisement The trader...

Cardano Price is Undervalued, Will Reach $10 This Year!
cardano ADA price

Well-known Crypto trader and strategist Justin Bennett has opined Cardano Price is still undervalued and the bull run is not over yet.

Advertisement header-banner-ad

The trader took to Twitter to tell his 39,200 followers that ADA’s price has been moving sideways for six weeks, and this means the market doesn’t believe it’s overvalued at all. 

A lot of people are trying to tell me $ADA is overvalued.

We’re in a crypto bull market. That means 99% of cryptos are or will be massively overvalued by conventional valuation models.

ADA moving sideways for 6 weeks tells me the market doesn’t believe it’s overvalued at all.

— Justin Bennett (@JustinBennettFX) April 10, 2021

He also tweeted that he has been accumulating Cardano as he thinks the recent consolidation is setting the platform up for a big breakout in the near future.

“Starting to build a sizeable ADA position. I’ve held some for a while but adding to it here. Anything between $1.10 and $1.30 is fair game…I don’t buy markets that are going vertical. I buy markets that went vertical recently and have since gone sideways for over a month. That’s a recipe for the next leg higher.”

Cardano (ADA) Price to Reach $10 by End of 2021

The trader goes on to place his prediction for the price by the end of 2021, he believes the token can 10X from its current prices and reach the $10 level.

While $10 is his conservative prediction, $20-$30 wouldn’t surprise him either he adds.

$ADA peaked at $1.18 during the last bull market.

The mid-point of this recent consolidation is $1.20.

Not a coincidence.

A 10x from the previous cycle peak is conservative. $BTC has never done less than 10x from peak to peak, and we know alts run hotter than #Bitcoin. pic.twitter.com/cPVDf3u4Ua

— Justin Bennett (@JustinBennettFX) April 10, 2021

Even though he has been ultra bullish of Cardano, he believes the bears are still in control until its price takes out a key level.

“The jury is still out on whether the bottom is in for ADA. Markets are flirting with some big support levels, and ADA remains below $1.50. As such, I have to respect the short term bearish scenario”.

At the time of writing, Cardano is trading at $1.49 with a 10.07% rise in the last 24 hours.

Source: https://coinpedia.org/altcoin/cardano-price-ada-will-see-massive-rally/

Post navigation

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on BitcoinEthereumNews

ORIGINAL SOURCE

https://bitcoinethereumnews.com/technolo...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from BitcoinEthereumNews

See more
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com

03/15/2023

·

1.7K views

Related News

See more
Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)