Is Cardano (ADA) Ready for a Bull Market? Analyst Jason Pizzino Updates His Forecast

Famous crypto analyst Jason Pizzino, these days when the crypto money market is trying to recover Cardano (ADA) Share your predictions for

Publishing a new YouTube video Jason Pizzino, the seventh largest cryptocurrency to YouTube subscribers with over 250,000 followers ADA priceHe predicts that if it breaks the $1.40 level, it could enter a bull market (ADA was trading at $1.07 when the analyst made this prediction and is currently trading at $1.26).

“This is an area we would like to see ADA reach for to match the previous ‘up’ range. Basically I can tell by looking at the cogs in a market.

We want to see if the market at least reaches or extends the up ranges it does in a downtrend so you can get an idea of ​​what the ‘smart money’ is doing.

If we see more traders buying ADA, we may also see ranges increase, so we can assume that the market will start to rise from that point on because the market continues to strengthen.

We are starting to see longer ‘up’ ranges and therefore ADA’s initial price target against the dollar is currently around $1.40.”

The trader also noted that he is looking forward to Cardano breaking out above $1.60, though he also warned that the altcoin could see short-term dips on its bullish path.

“We are approaching the 50% level at the $1.60 level, after this level there will be decreases, but before that, we can see the $1.64 level.

There are many lows that will potentially give small short-term returns. If that happens, rest assured the market is still strong, provided the lows don’t break.

So sum up those numbers for ADA in the US dollar pair, the first level is about $1.40 and then $1.60, ideally over $1.64 to keep it nice and simple.”

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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