Joao Wedson, CEO of crypto analytics firm Alphractal, has issued a cautiously optimistic outlook for Cardano (ADA), hinting at a potential breakout later this year despite current market hesitation.
According to Wedson, ADA appears to be moving through a distribution phase, which might lead to a near-term dip—but he views this as a setup for strategic accumulation.
“This zone could turn into a buying opportunity within days,” he said, referring to what his firm calls the “Alpha Price” level.
While ADA may not see an immediate rally, Wedson expects the real momentum to build toward the end of October, predicting a possible surge above $3. He noted that such a move could challenge existing chart patterns but pointed to encouraging on-chain metrics as support.
The broader market, he added, hinges on Bitcoin’s behavior. A confirmed move above $119,300 could ignite a fresh wave of bullish momentum across crypto assets.
Alphractal’s current ADA position sits at an average entry price of $0.2883, with Wedson expressing confidence in the long-term strategy behind it.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/cardano-price-prediction-whats-next-for-ada/