- ADA might dip before it rips – Analyst Jonathan Carter sees Cardano dropping to around $0.59 before potentially bouncing back toward the $1 mark.
- Bullish signs are stacking – Despite the recent slump, ADA’s fundamentals are strong with news like Ripple’s RLUSD launching on Cardano and possible involvement in Bitcoin DeFi.
- Big rally still possible – If patterns from 2024 play out, analysts say ADA could hit $2.50—or even up to $10 long term if momentum builds.
Cardano ($ADA) might be taking a breather right now, but one crypto analyst isn’t counting it out just yet. Despite a less-than-exciting price week and a slide below the $0.65 level, market expert Jonathan Carter believes that ADA still has a real shot at hitting that elusive $1 mark… just not immediately.
Is $1 Still on the Table?
ADA has dropped about 13% over the last seven days, trading around $0.64 at the time of writing. Honestly, the chart’s been kind of flat lately—nothing dramatic either way. But Carter’s technical breakdown on X suggests this might actually be the calm before the bounce.
According to him, Cardano couldn’t hold that $0.65 support and is now drifting toward a fresh base around $0.59. Sounds bearish? Well, not exactly. Carter argues that this new support could act as a launchpad, with ADA potentially snapping back toward $1 in the coming months.
“Despite the long correction, the price still has a chance to bounce off this support and rise towards $1,” Carter noted. “Otherwise, we’ll fall to the lower border of the broadening wedge.”
Yeah—it’s a bit of a wait-and-see moment. Some folks are hoping for a short-term rebound to $0.70, but Carter’s take suggests we might have to dip under $0.60 first before anything exciting happens.
Still Some Good News for ADA
Look, the sentiment around ADA hasn’t exactly been glowing lately, but that doesn’t mean there’s no positive buzz.
For starters, Charles Hoskinson (yep, Cardano’s co-founder) confirmed that Ripple’s RLUSD stablecoin will launch on Cardano. That alone sparked some life into the token. Then, Hoskinson teased something even bigger—Cardano could soon be playing a role in Bitcoin’s decentralized finance (DeFi) scene. That’s not small potatoes.
Cyclical Pattern Could Lead to a Pop in May
Also, ADA’s chart is apparently forming a cyclical pattern that some analysts say could pop off in May. Like, properly pop off. One report even suggested ADA could spike to $2.50, maybe more if the stars align.
And for the real dreamers out there? Some say $10 isn’t out of the question. It’s bold, sure. But hey—don’t forget ADA pulled a 1,000% surge back in 2021, so history says it’s not totally nuts.
