Analyst Jason Pizzino outlines his expectations for Cardano (ADA) for the rest of the year.

Pizza speak that the chart shows that “buyers are running away” from ADA and the signals from the technical indicators do not look optimistic in the short term.

ADA / USD Monthly Chart | Source: TradingView

Pizzino believes ADA could drop below $ 1 in the coming weeks and months, depending on how the overall market plays out.

“It doesn’t look very good so far. The steps up are less and less …

I’m looking for a possible turnaround in the next few weeks or months. Price? Anywhere between $ 0.4 and $ 1.

Weekly ADA / USD Chart | Source: TradingView

Despite its grim near-term outlook, the popular analyst told its 200,000 YouTube subscribers that after this correction, Cardano will jump 100% to 300% from around $ 1.16 today.

“$ 2.50, that’s the old tip, and ADA will have a market cap of $ 80 billion. $ 3.75 would equate to a market cap of $ 120 billion. $ 5 would equate to a market cap of $ 560 billion. Everything is within reach. “

ADA cap weekly chart | Source: TradingView

However, the fact that many people are asking for $ 10 for ADA is too optimistic, the analyst said.

“Can ADA reach $ 10? That means it will have a market cap of $ 320 billion. We now have ADA with a market cap of $ 40 billion. We have Ethereum with a market cap of $ 220 billion.

That means ADA will have to outperform Ethereum and Bitcoin by a lot if the market recovers. I don’t think so in this market cycle. I don’t think we’ll see ADA at $ 10.

$ 5? For sure”.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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According to Dailyhodl

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