The Cardano blockchain’s native cryptocurrency ADA is currently hovering around the $0.67 mark on Thursday. The leading altcoin has surged nearly 12% in the last seven days and is attracting positive sentiments in the charts. Investors who took an entry position last week have made decent profits as the digital asset soared double-digit in the short term.
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Can Cardano’s ADA continue its positive momentum in the indices for the next five days and generate decent profits? In this article, we will highlight the weekly short-term price prediction for the leading altcoin. This article can help you understand whether taking an entry position in the leading altcoin now could deliver profits or not.
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Short-Term Price Prediction For Cardano (ADA)
Leading on-chain metrics and price prediction firm CoinCodex has predicted that Cardano’s ADA has more steam left for the short term. According to the latest price prediction, Cardano’s ADA could surge by approximately 6% from its current price of $0.67. The altcoin’s short-term price target is projected to reach between $0.71 and $0.72 in the next five days.
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Therefore, an investment of $1,000 into Cardano’s ADA could turn into $1,050 in the next five days if the forecast turns out to be accurate. The estimate indicates that the altcoin could carry on its positive momentum well into next week generating further gains. Taking a short-term entry position in the cryptocurrency is advisable today for the next five days.
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If the forecast turns accurate, Cardano’s ADA would have surged by nearly 17% in the last three weeks. That’s stellar returns for the short-term as very few investments deliver double-digit profits for the short-term. The ongoing volatility in the markets is making it harder for investments to surge and generate money. Read here to know how high Ripple’s XRP could surge in the charts and whether should you invest in it.
