Cardano’s (ADA) price began to rally towards the end of October 2023. However, the popular cryptocurrency has fallen victim to the market-wide correction over the last few weeks. ADA is down by nearly 10% in the weekly charts, 17.7% in the 14-day charts, and over 22% over the previous month. However, the asset is still up by 32.6% since January 2023.
Also Read: Cardano: Why Institutions And Traditional Finance Cannot Ignore ADA.
Despite the recent correction, ADA’s fundamentals are robust. The project is one of the most developmentally active and has topped developmental leaderboards several times.
Will Cardano (ADA) reach $1 by Q2 2024?
Reaching $1 from current price levels would translate to a growth of around 117%. For Q2 2024, Changelly predicts a maximum price of $0.588, which the asset may attain in May. Moreover, the platform does not anticipate ADA to reach $1 before September 2025, about a year and a half from now. Furthermore, Changelly predicts ADA to hit its all-time high of $3.09, which it attained in September 2021, in September 2028, about four and a half years from now. The asset is currently down by over 84% from its all-time high.
Also Read: Cardano (ADA) To Rally 900% And Reach $6: Predicts Analyst
Telegaon, on the other hand, paints a more bullish picture for Cardano (ADA). According to the platform, ADA could reach a maximum price of $2.15 in 2024. However, Telegaon does not clarify when, in 2024, ADA could hit its target. Telegaon predicts ADA to reach its 2021 peak of $3.09 in 2025.
If the cryptocurrency market begins to rally on the heels of Bitcoin’s (BTC) halving event, ADA could reach the $1 target by this summer. However, if the market does not move, ADA will likely not hit $1 in Q2 2024.
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