Despite aggressive shorting pressure pushing Cardano lower, traders increasingly expect ADA to trade sideways before a significant upside. Over the past few days, Cardano has remained bearish, with ADA down 6.34% on the week.
Mentor, a dYdX ambassador, has expressed a bullish stance on Cardano, stating that it would gain substantial traction soon enough. He revealed this in a recent X post.
Cardano founder Charles Hoskinson has said that the next Bitcoin push to an all-time high would benefit the overall crypto market, including ADA. In a recent commentary, Hoskinson described Bitcoin as the primary driver of market momentum.
Despite recent correctional price action, analysts still expect a massive bullish push for Cardano to revisit multi-month levels. Notably, Cardano (ADA) has joined a broader market retracement, deviating from its early-year price action.
Experienced market analyst Quantum Ascend remains confident in his projection that Cardano has reached a bottom and will rally from here to a double-digit price. According to him, it is only a matter of time before Cardano pumps aggressively.
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