- Long-term $9 ADA ATH target still in play.
- Analyst states dips before pump is inevitable.
- How low will ADA dip before the altseason rally kicks off?
As BTC and ETH prices fall, the prices of other promising altcoins fall with it, marking a highly bearish market momentum. At the moment, more analysts and traders are turning bearish while bullish sentiments continue to diminish. One analyst sheds light on Cardano and its native altcoin asset, stating the long-term $9 ADA ATH target still in play. The analyst says that however more dips will come before the pump.
Long-Term $9 ADA ATH Target Still in Play
This week, the crypto market began to experience a steady decline in prices, with the price of BTC falling to $107,000 yesterday and $104,000 today. Following this decline, altcoins responded similarly, with the price of ETH falling below $4,000 and now trading in the $3,400 price range. Likewise, all altcoins seem to be moving in a downtrend pattern, destroying all hopes for a promising altcoin price pump.
While most analysts remain bearish, only a handful of analysts remain bullish. In detail, the reason most analysts have turned bearish is because the 4-year bull cycle seems to have completed its run, meaning the days counting down to the end of the cycle and over, marking a possible start to the bear market. This expectation is being debunked by bullish analysts who believe the 4-year bull cycle is now obsolete.
Earlier this cycle, many reputed crypto and financial experts, including crypto leaders like Charles Hoskinson, have been debating and discussing the possibility of the 4-year bull cycle becoming obsolete and the crypto market shifting into yearly cycles like the stock market. If this expectation plays out, then it is highly likely that the alseason may not have been missed this year, but rather delayed with shifting dynamics.
Analyst States Dips Before Pump Is Inevitable
At the moment, a few altcoins are gaining more attention than the rest, and one such asset is Cardano’s ADA. This altcoin is currently trading at $0.54, marking how the asset is down by over 5% in the last 24 hours. The asset is also over 80% away from its previous ATH set 4 years ago.
https://x.com/GunsRoses1987/status/1985333429651529796
As we can see from the post above, this crypto trader and analyst notices how the price of ADA failed to rally over the weekend. He is now expecting ADA to hit lower lows, giving traders the chance to accumulate the promising asset at much more affordable prices. He says that ADA will trade above $9 in the years ahead, but expects traders to be prepared for the price of ADA to hit $0.40, $0.30, or even $0.20 in the coming pullback phase.
