Cardano moved sideways, being neutral in the short run. In the bigger picture, ADA has been affected by crypto market weakness. I expect this to last around another 6 months.
Prognosis: - Likely: ADA is likely to continue to the previous local top at $1.60. Ideally, the price first retouches the broken downward trend area around $1.10/$1.20 - BUY OPPORTUNITY! We have orders placed! This would help buyers to come in at lower prices and propel the quotes with new energy! Eventually, a convincing leap above $1.60 could free the path towards $2.20 (ATH) later this year.
- Alternatively, Cardano falls under the $1.00 support. This could be a fake out, but possibly it would start a multi month period of weakness.
Time is on our side and I expect the bull market to get into its next phase, let it be end 2021, or mid 2022. Then ADA is expected to profit strongly and eventually outperform Bitcoin.