The cryptocurrency market seems to be facing another slight correction after a brief rally last week. Bitcoin (BTC) reclaimed the $66,000 mark last week but has since dipped below $64,000 again. Cardano (ADA) follows BTC’s trajectory, falling 3.1% in the daily charts. This price prediction article will explore if ADA can breach the $0.70 mark in October 2024.
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Despite the correction in the last 24 hours, ADA is up by 8.2% in the weekly charts, 15.2% in the 14-day charts, and more than 10% over the previous month. The asset is also up by 52.4% since September 2023.
Cardano Price Prediction: Will It Hit $0.70 in October 2024?
CoinCodex Analysis
CoinCodex analysts are not very bullish on ADA for October 2024. The platform anticipates the asset to trade between $0.36 and $0.42 for most of October. CoinCodex predicts ADA will hit a maximum price of $0.455 in October, which it may attain by the end of the month. Reaching $0.455 from current price levels will result in a rally of about 18.8%.
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Changelly Forecast
Changelly researchers also present a similar forecast for ADA. The platform anticipates ADA to hit a maximum price of $0.461785 in October, which it may attain by Oct. 29, 2024.
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Cardano (ADA) may rise above $0.46 in a positive market environment. October has historically been a bullish month for the cryptocurrency market, especially when September ends in the greens.
If BTC breaks into another rally, ADA will likely follow suit. In this scenario, the asset may hit the $0.70 mark.