Crypto analyst Trend Rider, Cardano (ADA) 
$0.355076 He laid out two possible paths for the price to reach new highs. ADA has been among the worst-performing crypto assets since the beginning of the year.
Two Ways for Price Rise
Trend Rider stated that there are two different scenarios for the ADA price to experience new rises. According to the first scenario, Bitcoin 
$62,198 If it stays above $60,000, Cardano price could rise as high as $0.6.
In the second scenario, ADA is expected to fall into the $0.24 liquidation zone and then recover. Trend Rider stated that a strong upward trend may begin after this situation.
According to some analysts, there is a possibility that Bitcoin could fall below $60,000 due to negative unemployment data. This situation may also cause ADA to experience a significant price drop.
ADA, which has had rising expectations since the beginning of the year, showed a positive monthly performance for the first time in September. However, the expected performance did not occur due to the negative atmosphere in the general crypto market in October.
On-chain data shows investor sentiment towards Cardano is mixed. Although there is a slight increase in large transactions, the proportion of addresses in profit is decreasing.
Latest Situation and Future Expectations
Cardano’s future performance seems to depend on the overall health of Bitcoin and general trends in the crypto market. It may be important for investors to act by considering ADA’s potential bullish or bearish scenarios.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
