According to a new survey by popular comparison website Finder, Cardano (ADA) has a ridiculously bullish future ahead of it.
In its latest report, Finder reported that a surveyed panel of analysts believe that the smart contracts-powered token could hit $58, a 5,879% rally from its current price of $0.97, by 2030. The survey also revealed that analysts expect the cryptocurrency to end the year at around $2.72, a 180% jump from its current price.
Interestingly, a prominent panelist on the survey, Vanessa Harris, chief product officer at Permission, argued that the cryptocurrency could hit $3 before the end of 2022. Harris explained:
“[Cardano is] one of the few smart contract platforms that have placed security, correctness [and] decentralization at their core, backed by formal methods and peer-reviewed research.”
While Cardano has come under fire for its snail-paced network updates and codebase upgrades due to its peer-reviewed nature, Harris asserted that this was a selling point for the cryptocurrency in courting adoption by nation-states and non-governmental organizations.
However, not all the panelists reported bullish sentiment for the cryptocurrency. One such panelist was Balthazar CEO John Stefanidis and investor Veronica Mihai. Stefanidis asserted that ADA could drop even further this year because of the “lack of execution and poor technology.” Mihai also believes that ADA will drop lower over the next ten years, explaining:
“Unless they achieve great tech advances and a significant user base, it may suffer the same fate as most POS coins.”
Key Cardano Levels to Watch — February 21
ADA maintained a downward streak on Monday and has tapped its lowest level since April 23, 2021, amid a market-wide retreat. The renewed sell-off forced the cryptocurrency below the critical $1 mark, which had kept bear at bay over the past month and could open the door to additional declines near the $0.8 level.
Except we see a resurfacing above the $1 mark in the coming hours, ADA is likely to continue on a bearish charge amid the prevailing risk-off tone across financial markets.
Meanwhile, our resistance levels are $1.000, $1.050, and $1.100, and our support levels are $0.900, $0.800, and $0.700.
Total Market Capitalization: $1.77 trillion
Cardano Market Capitalization: $32.2 billion
Cardano Dominance: 1.81%
Market Rank: #7
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