As the price of Bitcoin has recovered, expectations for altcoins such as Cardano have been on the rise. This has led to bullish predictions for the ADA price, especially as one crypto analyst, Alan Santana, foresees a significant surge in the price of the altcoin. According to Santana, the days of struggles are over and it is time for ADA to begin its anticipated move upward.
The Time For Cardano Recovery Is Over
In a recent analysis, crypto analyst Alan Santana stressed that the time for recovery for the Cardano price is over. The analyst is seemingly pointing to the slow recovery that took place over the year after the price crashed alongside Bitcoin and fell below $0.3.
Santana pointed out the fact that the market has been rising and has not made any new lows since November 202, which shows “maximum bullish strength” after the final correction. However, the likes of Cardano failed to follow this same bullish trend.
The analyst pointed out that there was a double top in December 2023, which also ended up at around the same level that the price was trading back in May/June 2022. “The recovery year is over, this is the important part,” the crypto analyst declared.
Price Targets For ADA Price Going Forward
In the charts shared by the crypto analyst, multiple price targets are outlined for the Cardano price going forward. Santana’s forecast points out a likely decline in price down below $0.4, reaching as low as $0.38 before the price begins to rally.
Once a bounce occurs from this downtrend, the crypto analyst foresees a quick rally upward. The first of these rallies sees
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Author: Scott Matherson
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