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While Bitcoin is trading at $ 51,300, some altcoins continue their horizontal course. It seems that ADA Coin has not yet started the expected rally, and this can be attributed to the fact that investors do not expect gains from ADA Coin amid BTC's price fluctuations.
The current status of Cardano (ADA) shows that it is trading at $0.58. The latest weekly charts show that ADA Coin is making closes above the horizontal resistance area to signal a trend change. The fact that ADA Coin has reached as high as $3 in the past and surpassed its previous peak shows that it may still be a noteworthy investment.
According to the ADA Coin price prediction, the daily and weekly charts show a positive outlook and the peak of $0.64 is seen to be reached. Currently, it is trying to hold above the key $0.58 level and the uptrend is expected to continue according to Elliot wave theory.
According to Elliot wave theory, ADA Coin price is estimated to be about to complete the fifth and final wave on the daily chart, with the target being $0.82. However, if the price falls below $0.58, sharp sell-offs are expected for ADA Coin and prices will drop to $0.52. Despite this bullish forecast, Bitcoin's price performance will have a significant impact on the direction of the ADA Coin forecast, and closes above $50,400 will be important.
