Cardano Price Prediction: ADA Buy Surge Leads to Healthy Correction, Analysts Say $1.1 Breakthrough is Coming

The price of Cardano (ADA) has welcomed a healthy correction, reporting at $0.7697 today (30th). Cardano founder Charles Hoskinson believes that ADA has more investment value compared to Bitcoin. Analysts say that once the pullback ends, ADA may challenge a new breakthrough at $1.1.

In an interview with Blockworks Research founder Jason Yanowitz, Charles Hoskinson pointed out why ADA is currently a better investment compared to Bitcoin. He emphasized that only those who can "predict the future" can make real money in the cryptocurrency space. Those who can foresee the direction of the market or industry over the next 10 years are more likely to achieve life-changing returns.

Speaking about ADA, Hoskinson stated that the greatest potential lies in the demand for the private sector to issue real-world assets (RWA). This is exactly what Cardano is currently doing, and he anticipates that these demands will become the preferred blockchain for enterprises to issue assets and raise funds in the future.

"How far can Bitcoin go up?" Hoskinson asked. "Maybe it can go up to a million... that's 10 times increase. ADA can increase by 100 times, even 1000 times. We are not second-class citizens. Cardano does more compared to the Bitcoin network," he emphasized.

Cardano Price Prediction: ADA Challenges $1.1 Break After Healthy Correction

Looking at the daily chart, we can see several potential paths that ADA may take based on the support of the trendline appearing in the latest rising trend.

Selling pressure increased at $0.90, and ADA has strongly retreated from that level. This is a much-needed breather as the Relative Strength Index (RSI) has climbed to an extreme overbought level of 83.

We may now see ADA drop to TL1 or TL2, which means that in the coming days, the token will fall to around 0.72 dollars and 0.65 dollars, and then it will resume an upward trend.

After this, the next stop point may be at the level of $1.1, which will bring about a strong upside potential of around 50% to 70%, depending on your entry price.

This bullish Cardano price prediction shows that the last line of defense is at $0.615. As long as the price remains above this level, these short-term targets are still achievable.

(Source: Trading View)