Cardano Price Consolidates Before Potential Breakout, Analyst Predicts 188% Surge to $1.70

Crypto analyst Ali Martinez predicts Cardano will consolidate between $0.55-$0.80 before a potential breakout to $1.70, a 188% increase.

Cardano's price has decreased 4.39% over the past 24 hours to $0.57, continuing a downward trend.

Cardano is down 1.2% year-to-date, while Bitcoin and Ethereum have gained 60% and 50% respectively.

Grayscale recently dumped its Cardano holdings, fueling speculation of further price drops.

Martinez believes current consolidation phase could precede a significant price breakout for Cardano.