Hopes for Cardano price predictions to turn bullish are rising after the network made a series of announcements that could bring back bullish sentiment on the ADA/USDT pair.
The company announced that Minswap will launch as a decentralized exchange (DEX) on the Cardano blockchain on 25 January. Ravendex, another DEX listed on Cardano, is launching its NFT collection. Cardano is also branching into the Metaverse with the launch of Pavia. This play-to-earn metaverse platform presents in-gaming within the Cardano blockchain and also a project that allows the purchase of virtual land in the Metaverse.
Will these announcements be enough to stir Cardano price predictions to the upside?
Cardano Price Prediction
The daily candle has formed a doji just above the 1.303 support. A bullish candle needs to follow this doji to confirm the short-term reversal of the 2-day slide, targeting 1.405 initially. The 1.499 and 1.601 resistance barriers form the new targets before 1.761 (2 December low) enters the picture as another target to the north.
On the other hand, a decline below the 1.303 support targets 1.197 initially, before 1.073 enters the picture as the new southbound target.