Cardano has corrected since the last bull run due to Mary update. After having hit $1.06 support, it is now oscillating around $1.12. Volumes are currently low, showing a lack of interest for this token. In other words, it is currently accumulating, and hence the next step will likely be a new rally.
It is challenging to say when it is going to wake up, but the next bull run might bring ADA up to $2.
As usual, it is not a financial advice. If Daddy Bitcoin crashes, Polkadot will likely crash too. However, Cardano ADA is one of the most reliable tokens:
- ADA is #5 in market cap, pretty close to BNB...
- Staking is simple and easy, accessible to everyone, with no freezing or unbonding period
Furthermore, Cardano foundaton is working on DeFi projects. Once it is alive, it will pump ADA value higher. $10 is a credible target in the mid-term.
In summary, the next steps are:
- $2 (next rally)
- $10 (in the mid-term, once DeFi projects are alive)
Click here to get more info on the coins in which I believe the most.
