Looking at the daily Cardano to Tether chart, I have my sights set on the ultimate $2.00 mark. And good news! We have a shot to get there this Spring! But a number of things need to happen. So let me explain the positives and negatives for this move.👇👇👇
Cardano is still in an upward funnel that has been going since the beginning of this year and there is no reason for it to stop quite yet. With the launch of Goguen, smart contracts, native assets and more, Cardano should push higher. There is also the possibility we see a corporate, government or institutional liquidity injection on the Q1 balance sheet. Who knows! Key things to watch are the MACD crossing in the next week and breaking resistance levels at $1.18 and $1.35. If those things happen, $2.00 is highly likely by around April 8th.
On the other hand, if Cardano falls under the $1.08 floor (ignoring the flash crash) and the MACD doesn’t cross, we could see a correction phase. If this occurred, Cardano could drop as low as $0.80 and we may not see $2.00 until Fall or EOY. I don’t think a Bearish move is likely just yet, but you can’t rule anything out in this volatile sector.