Could Cardano price go to USDT1.9840 in 2024?
Current Cardano or ADA price is USDT0.6813 as per 29 Feb 2024. Currently the price of all Cryptocurrency is going up due to the approval of Bitcoin spot ETF in the US and the anticipation rally of the Bitcoin Halving in some time around April 2024. These are the current strong tailwind driving the Cryptocurrency market higher before the Bitcoin Halving.
If there is no Strong Headwind coming into play on the FED's FOMC in 20th March 2024 and all the FOMC meeting this year. Then there could be a most likely case for a Bitcoin Halving rally this year. If FED's FOMC decision to cut rate remain as per the January 2024 meeting with 2 to 3 rate cut this year around 50 basis to 75 basis point. Then FED will decision on FOMC will not be a strong headwind.
However, there might be others coming event will be a strong headwind for cryptocurrency market example like more wars in the world or geopolitical tension involving the USA. The potential mild recession in the USA (not very likely due to current Data in Jan 2024).
I am waiting for a bad PCE number today for this price of Cardano to drop to around USDT 0.5711. The price might also go lower to USDT 0.4584 if the Feb 2024 CPI, PPI and PCE numbers are hotter than expected. There might be potential some pull back even when the Fed's FOMC direction remain unchanged of 2 to 3 rate cuts. A dip.
This year peak could be at USDT1.9840 if not strong headwind appears in Q1, Q2 or Q3 but appears in Q4. If no strong headwind appears the price could even breach the previous record high at USD3.10 (roughly around there).
Trader should by the dip for Cardano from March 01, 2024 to March 20, 2024. If no bad PCE news then just buy now and keep the token for Bitcoin Halving rally.
If there is no Strong Headwind coming into play on the FED's FOMC in 20th March 2024 and all the FOMC meeting this year. Then there could be a most likely case for a Bitcoin Halving rally this year. If FED's FOMC decision to cut rate remain as per the January 2024 meeting with 2 to 3 rate cut this year around 50 basis to 75 basis point. Then FED will decision on FOMC will not be a strong headwind.
However, there might be others coming event will be a strong headwind for cryptocurrency market example like more wars in the world or geopolitical tension involving the USA. The potential mild recession in the USA (not very likely due to current Data in Jan 2024).
I am waiting for a bad PCE number today for this price of Cardano to drop to around USDT 0.5711. The price might also go lower to USDT 0.4584 if the Feb 2024 CPI, PPI and PCE numbers are hotter than expected. There might be potential some pull back even when the Fed's FOMC direction remain unchanged of 2 to 3 rate cuts. A dip.
This year peak could be at USDT1.9840 if not strong headwind appears in Q1, Q2 or Q3 but appears in Q4. If no strong headwind appears the price could even breach the previous record high at USD3.10 (roughly around there).
Trader should by the dip for Cardano from March 01, 2024 to March 20, 2024. If no bad PCE news then just buy now and keep the token for Bitcoin Halving rally.
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It been a bad CPI, PPI and okie PCE for the Feb 2024 and March 2024 data point causing the price of ADAUSDT drop. I am correct that if these data is bad then the price action will fall to around USDT0.4584 projected on Fab 29, 2024.The lower price on the close for the past 2 and the half month is USDT0.4285. I am 93.47% accurate in my projections.
If there is no worse new or strong head winds from the CPI, PPI, ECI, PCE, GDP, JOLTS report and Feds FOMC. Then USDT0.4285 is the bottom for this year.
Once the USA S&P 500 and Nasdaq confirm in the bull market for next 10years. ADA price will have a chance to fly to all time high at USDT3.10
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There been not much common coloration between Nasdaq and Cryptocurrency market. Nasdaq reach record high, but ADAUSDT almost reach record low. Money has been pouring into Nasdaq and out of cryptocurrency for the USA market. Funds is going into the AI Theme surrounding Nvidia and other related companies. Meanwhile, cryptocurrency is on a downtrend for pricing in 1 rate cut from the Fed's FOMC this year from previous 2 to 3 cuts. Hence, cryptocurrency has this strong headwind causing it to go lower.
ADAUSDT price might go below USDT0.25 in the coming weeks if the abovementioned strong headwind still exists. The previous bottom call at USDT0.4584 was not accurate on Feb 29,2024. the accuracy was only 85.56% for the bottom call.
Buy the dip at USDT0.25 or below per token of ADAUSDT. Don't put all your money in but buy some at this level.
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Cardano all time low was on August 05, 2024 at USDT0.2756, Near USDT 0.25 from the last projection.
If Fed's FOMC cut rate next week with 25 or 50 basis point. There might be a price increase in ADAUSDT. The current priced at September 15, 2024 is at USDT0.3495.
Will go higher soon to USDT0.3910 on the 4 hour chart resistance. If there is no strong head wind in the coming month then Cardano price might increase to USDT0.7098.
Happy trading!
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