Analyst Jason Pizzino Sets A Down-to-earth 2021 Price Target for ADA
Jason Pizzino, a crypto analyst is shares his expectations for Cardano (ADA) performance in the second half of 2021.
According to the analyst, the charts show that “buyers are running away” from ADA, and that the coin’s technical indicators are not looking good in the short run.
ADA could drop to $0.40-$1.00 level in the coming weeks and months, depending on the overall market performance, says Pizzino.
“So far it’s not looking so good. The moves up are getting less…
I’m looking for a turn probably in the next several or few months to later this year. The price range? Anywhere from 40 cents to $1.”
Despite his bearish short-term outlook, Pizzino shares with his nearly 200K YouTube subscribers that by the end of the year, he’s looking for Cardano to rise to around $2.50-$5.00 levels.
“$2.50, that’s the old high. That would be an $80-billion market cap. $3.75 would be a $120-billion market cap. $5 would be a $560-billion market cap. All within reach here.”
According to Pizzino, there have been calls for ADA to reach $10, which he deems as overly optimistic.
“Can ADA reach $10? That would mean we would need a $320-billion market cap. Now we have ADA at a $40-billion market cap. We have Ethereum at a $220-billion market cap.
That means we would have to leapfrog Ethereum as Ethereum goes up as well, as Bitcoin goes up as well. So in this market cycle, I don’t think so. I don’t think we are going to see ADA at $10.
