Despite the stock market rally, Cadrano fell below the key 50-cent level
- Despite the stock market rally, Cardano (ADA-USD) fell below the key 50-cent level today
- Other cryptos are also not performing very well
- Pundits provided wide-ranging Cardano price predictions
Cardano (ADA-USD), a popular altcoin, is in focus and falling today. The cryptocurrency has dropped below the important level of 50 cents per coin and is now changing hands for 46 cents. This has investors eager for Cardano price predictions.
Other cryptos, including Bitcoin (BTC-USD) and Ethereum (ETH-USD), are little changed despite the stock market’s powerful rally today, representing its second straight day of strong gains. That situation is likely frustrating for crypto bulls who had expected the asset class to make a big comeback alongside equities.
Cardano Price Predictions
So where will the ADA crypto go from here? The website Crypto Briefing called the 50-cent level “vital” for Cardano and warned that “further selling pressure could result in a correction to” 34 cents.
On the other hand, one long-term, bullish prediction came from Gov Capital, which expects Cardano’s price to be $1.88 in a year.
Taking a look at other Cardano price predictions, less optimistic is Wallet Investor, which predicts that Cardano will reach 50 cents in one year and in the middle is DigitalCoinPrice, whose 2023 average price target for the altcoin is 70 cents.
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been GE, solar stocks, and Snap. You can reach him on StockTwits at @larryramer.
