CEO of Analysis Company Makes Incredible Bullish Prediction for Cardano (ADA): "By the End of October and Beginning of November, the ADA Price..."

The CEO of the cryptocurrency analysis company Alphractal, Joao Wedson, emphasized a cautious optimism in his assessment of Cardano (ADA).

Wedson indicated that the market may have reached a critical "Alpha Price" zone at current levels and therefore a short-term correction could occur. However, he claimed that this decline could create a new buying opportunity within a few days.

On the other hand, he stated that if Bitcoin rises above the level of 119,300 dollars, a strong upward trend in the market could begin.

Speaking specifically about Cardano, Wedson argued that ADA is currently in a distribution phase and this could present a good entry opportunity in the short term. However, emphasizing that the main breakout could occur in the last quarter of the year, he stated, "It is possible for ADA to trade well above 3 dollars by the end of October or the beginning of November." Acknowledging that this rise could disrupt some technical analysis patterns, Wedson nevertheless said that the on-chain data is quite promising.

Wedson, who also touched on buying strategies, said, "Our average purchase price for ADA is at the level of 0.2883 dollars. This is a solid position."