Cardano (ADA) is currently trading around the $0.34 price range on Thursday but is flashing bearish sentiments. The leading altcoin is down close to 5%, with little to no price spurts in the last three months. It has surged a mere 2.8% in 30 days, and the development is testing the patience of its investors.
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The price dip comes despite Cardano boasting of robust blockchain and transaction activities. Every other obscure token in the cryptocurrency market is beating ADA by a larger margin in the indices. Will the leading altcoin lick its wounds and experience a sudden boom in price this week? In this article, we will highlight how high or low the cryptocurrency will trade this week.
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Cardano (ADA) Price Prediction: Sudden Boom or Bust This Week?
Leading on-chain metrics and price prediction firm Changelly has painted a bearish picture for Cardano (ADA) this week. According to the price prediction, ADA will not experience a sudden boom this week but has more chances of heading south. The latest price forecast indicates that the cryptocurrency could dip close to 4% by the end of the week.
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Its price could end the week at $0.348759, which is less than its current price. Therefore, an investment of $1,000 could turn into $967 in a week if traders buy Cardano (ADA) today. The next week’s price prediction is also bearish as all pointers indicate it could trade sideways.
Cardano is among the least-performing assets this year despite having a market cap of $12.2 billion. Unknown and obscure cryptocurrencies are giving ADA a run for its money in the indices this year.
A new meme coin named BOME has already surged nearly 50% in just 14 days. Read here to know how high the meme coin could trade and how much profit you could make with it.
