The price of Cardano (ADA) may rise significantly after a correction in the green zone

Cardano (ADA), known for its scientific approach, is the subject of this analysis. We share a price prediction for ADA for the coming period with insights from our premium environment.

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New entry opportunities for Cardano (ADA)

Cardano had a very nice bullish phase in the last quarter of 2023, but fell sharply again last month. Our analysts believe that this downward trend will come to an end in the short term. They shared the following in the Premium environment:

“Cardano is currently showing bearish signals, indicating a temporary decline in the form of a correction wave 2. However, this is a positive sign for us as this decline is often followed by a strong upward move known as wave 3.”

We want to personally prepare for this upcoming surge. We therefore plan to buy ADA around the time we believe Wave 2 will end. This lies between 100% and 123.6% Fibonacci levels, an area that often signals the end of a correction phase.

For ADA, this point is between $0.3364 and $0.3893, marked by the green zone. We want to prepare for a strong rise here towards the local high of $0.70 and possibly even higher.”

Date of analysis: February 1st. Link to trading view:

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