Cardano course forecast and at which prices it is still worth getting into ADA

August 19, 2023

What are Cardano and the ADA Coin actually doing there? A new all-time high is chasing the next. But for people who want to buy Cardano, cardano prognose is now the right time to jump on the bandwagon? It is exactly this question that we will pursue in this Cardano price forecast and take a look at where and when it is still worth getting started.

Cardano price prediction of $3. 50 within reach?

Our last ADA forecast was already reached by crossing $2. 80. The Cardano coin is currently trading at $2. 90 and seems to be taking one hurdle after the other. But what comes next?

If we dared to make another Cardano forecast using the Fibanocci Extension, the answer would be: $3. 50.

If we dared to make another Cardano forecast using the Fibanocci Extension, the answer would be: $3. 50.

But for investors looking to buy Cardano, is it really worth entering the market at this price point? In our opinion, this is questionable.

Of course, the ADA price can theoretically still reach or even exceed $3. 50 in the short term, but the risk/reward ratio is no longer correct here. This means that if you entered the altcoin now, the risk would be too high compared to the expected profit.

The steep rise in the ADA price makes an imminent correction more and more likely. So if you still want to invest in Cardano, you should look for a suitable level, and an investment offers much more lucrative prospects than is currently the case.

This is exactly what we want to do now in the further part of our Cardano course forecast.

Buy Cardano at a “bargain price”

Basically, you should never chase a price rally for fear of missing out. Especially not when it comes to highly volatile assets like cryptocurrencies. Here it is always important to ensure a lucrative risk/reward ratio, because there are plenty of alternatives.

However, those who want to belatedly enter an altcoin like ADA should definitely wait for a correction rather than blindly jumping into the market in the midst of a steep upmove.

More lucrative price levels for ADA

The beginning of such a correction could currently occur at ADA while we are writing our Cardano price forecast here. Because the Cardano price fell from $2. 90 at the beginning to $2. 78 in just a few minutes and is threatening to lose the 1. 618 Fibonacci level as support.

Accordingly, it makes sense to look for possible entry levels on the ADA chart. Right away, we notice two possible entries that would be suitable for this. The price levels between about $2. 40 to $2. 50 and $2. 00 to $2. 20.

We determined these price levels primarily using the volume profile. This shows us where in the past there has been most trading activity between market participants. Such liquidity zones act like real magnets on the price development and are therefore often sought out for re-testing a certain level.

The most lucrative entry in the event of a sustained bull run
Both levels offer a much more lucrative opportunity for interested investors and traders if they want to buy Cardano. In the case of the 2nd level at around $2 to $2. 20, this is the much larger liquidity zone and of course the much more lucrative entry.

You could hit the market with a real bargain here. At least if the altcoins segment in general remains bullish.

Of course, no one can guarantee that the ADA course will even visit this level in the future. But as just written, the wise investor and trader does not run after his entries. He waits for them and if he misses one opportunity, he just moves on to the next.

However, if you want to reduce your risk of missing an entry, you can already build up part of your position at the 1st level and, in the event of a sustained correction, strengthen this position at the 2nd level.

Conclusion of our Cardano forecast

In order to summarize everything that has been written in this Cardano course forecast, it is important to choose your entries carefully and not to chase any opportunities. It is better to wait patiently for lucrative entries. In the case of ADA, these could be sought at either around $2. 40 to $2. 50 or $2. 00 to $2. 20.

With regard to the expected smart contract launch on the Cardano blockchain, there is certainly still a lot to gain in a bullish market for the ADA course. The volume shows us that significant amounts of ADA coins are still being accumulated.

But not only the Altcoin market but also that of Bitcoin seems increasingly overheated. In today’s Bitcoin course forecast, we have already argued that an imminent correction is becoming more and more likely.

So if you still want to buy Cardano, you are certainly better off preparing your entry carefully than jumping into the market blindly. Even if this Cardano forecast does not constitute financial advice, we hope that it has demonstrated how this could work in this case, for example.

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