Cardano price prediction: Analysts say 80-90% of the adjustment is done, 100% increase is coming soon

In the past few weeks, Cardano's price has faced serious downward pressure compared to other cryptocurrencies. ADA recently started falling below the $0.3550 area, down about 15% in the last 30 days. This weak performance has caused many ADA holders to experience losses, with unrealized losses continuing to increase as the price declines. Therefore, many people continue to sell to reduce losses, which naturally can lead to further ADA price declines, at least in the short term.
The current ADA price trend is very difficult to handle, especially for long-term holders, even though its performance lags behind, they still hold on. According to an analyst, the best way for these ADA holders to approach the ADA price prospect is to continue holding. This is because the decline has been quite severe, we can say that the 80% to 90% correction against the currency pair has already ended.
Overall, despite the market experiencing significant gains in September and October, the current trading price of Cardano is still around 56% lower than its peak price of $0.7742 in 2024. According to cryptocurrency analyst Alan Santana, ADA appears to be at a similar price level to November 2023, indicating a limited upward trend.
Compared to most other major cryptocurrencies like Bitcoin, Solana, and BNB, it has already retested from its all-time high in the first quarter of 2024.
Interestingly, Cardano may experience a decline in the coming months, especially if Bitcoin experiences a significant decline. However, as mentioned by analyst Alan Santana, the Cardano decline is almost over. Therefore, this ADA price drop will not be very strong, and will only last for a few days or at most a few weeks.
Santana said that selling ADA at the moment may not be the best option, especially for those who have been holding ADA throughout the adjustment process. This is because the price of ADA is already very low and in the accumulation zone. Therefore, the wise move is to focus on the long term and wait for the next Bull Market to fully arrive.
Santana's price prediction for ADA indicates that although there may be a slight decline again, it may gradually recover between November 2024 and February 2025, and a more significant bullish phase is expected to occur in March 2025. By then, Santana predicts ADA's potential return will exceed $0.70, equivalent to a 130% increase from the current price level.
Currently, the trading price of ADA is 0.3371 US dollars, up about 1.25% in the last 24 hours.
(Data source: Scott Matherson)