Cardano has been the center of attention since the start of the year 2024. The token has long been consolidating and has adopted a gradual price pace lately, unable to move past its critical price barriers. Despite ADA’s lethargic price pace, the ADA community remains hopeful that the token will eventually ascend to new price highs, especially after the widely anticipated Chang Hard Fork upgrade.
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ADA To The Moon: $3 Price Milestone Seems Clear For Cardano, Says Analyst
Source: VOI
Notable crypto analyst AV Sebastien, popularly called Sssebi on X, has made a rather bold price prediction for Cardano. Per the analyst, several reasons are pushing Cardano to come out of its comfort zone by moving past the critical price barriers that the token has long been reluctant to cross over. Sssebi shared how ADA is bound to recover its lost valuation as its ecosystem continues to work on delivering robust web3 functionalities to woo its users.
Stating the reasons for ADA’s imminent price hike to $3, Sssebi noted that Cardano’s crucial Chang Hard Fork upgrade will be able to rejuvenate lost interest in the ADA ecosystem. The fork, set to play an elemental role in expanding ADA’s price path, will usher in governance-related mechanisms to the system, thereby helping to bolster ADA’s price. Other than that, the analyst shared that ADA’s newest partnership with Argentina, as well as the new DApps launching on ADA, will also play a crucial role in defining the future path of Cardano.
Per the analyst’s bullish predictions, the ADA ecosystem will also be helming the marketing narrative, delivering more robustness to the token’s price pace.
Cardano June Forecast
As bullish as these predictions can be, the technical indicators tracking Cardano’s price path tell a different story. According to Coinpedia, ADA’s June Forecast is again projecting the token adopting a slow price pace. The platform has shared a new analysis for the token, adding that ADA may climb as high as $0.55 by the end of the month. The token may average around a price level of $0.45.
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“However, the lower price rejection near the $0.46 support increases the chances this June. Further, the broader market recovery will increase the trend momentum in the ADA price for a bull run. A downfall below $0.40 could plunge the altcoin price to $0.35. Optimistically, a bullish reversal from the support trendline could boost the ADA price above $0.50 to hit $0.55,” the platform shared.
Image Source: Coinpedia