Top Analyst Says Cardano (ADA) Has Bottomed Out and Ready for New Significant Uptrend

Capo, a top crypto analyst and trader has predicted a massive surge in the price of Cardano (ADA), the third-largest cryptocurrency by market capitalization, as the crypto market showcases signs of resurgence.

Capo, in a tweet as first reported by Daily Hodl, believes that Cardano (ADA) has already bottomed and ready for a new significant uptrend.

Capo tweeted, “ADA bottom was $1.90 Now all the way up to $10. Long and strong on ADA.”

Capo continued by referencing one of his previous tweets where he accurately predicted that the price of Cardano (ADA) would drop down to around $1.90 before resuming its bullish trend.

Capo noted:

“It looks heavy here. Potential correction to $1.85-1.90. Macro view is bullish and it will probably go to $10 or higher this year.”

In predicting the price of Cardano (ADA), the popular analyst used the Elliott Wave theory, a technical analysis approach that foretells future price action by following crowd psychology that tends to show up in waves.

Capo shows in his chart that the downtrend of Cardano to $1.90 marks the end of the cryptocurrency’s corrective phase and the beginning of a new bullish phase.

The trader is also bullish on altcoins as a whole. He believes that the entire cryptocurrency market will notably surge in the coming months:

“I repeat: this is just noise in the middle. $30,000-$50,000 [BTC] is a massive accumulation range. The corrections to $42,000, $40,000 or $38,000 [BTC] are gifts. Take them. October-December will be epic, especially for altcoins.”

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Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.