Cardano There are opinions that the upward potential of has not been fully realized. Although the ADA faced significant impacts from ecosystem developments, it remained quite passive during this period.
According to CoinGecko data, ADA increased by 0.73% in the last 24 hours. In this context, it is trading at $0.46 at the time of writing.
What’s Happening in Cardano
Crypto According to analyst Sssebi, Cardano is currently retesting the upper trend line of a triangle. A retest of a token generally refers to a situation where the asset bounces back by testing key support or resistance price points. This is done to check if it can surpass these levels to sustain its bullish momentum.
According to the expert, ADA’s RSI indicators also show a bullish divergence, indicating that the token may initiate an upward move.
According to the analyst, if ADA breaks and closes the $0.46 mark, it may show significant price movements in the near future.
“$ADA is currently retesting the upper trend line of the triangle that BTC has already broken. It is also possible to see the bullish divergence in the RSI. “If ADA starts to close above 0.46, we could see a rally soon.”
ADA Weekend Forecast
The crypto community is eagerly waiting for ADA to break out. The community is hoping for stellar ADA price movement due to solid ecosystem development. With the Chang Hard Fork distribution coming hard and fast, the token is expected to deliver greater results in terms of ecosystem and price approach.
According to CoinCodex, ADA is likely to continue to face some friction along the line. In this context, it is likely to lose 4% of its value to trade at $0.41 by May 21.
The token is also likely to regain some of its value by May 23 and could trade at a price level of $0.43.
“The Cardano price prediction for the next 30 days is a projection based on positive and negative trends over the past 30 days. According to these Cardano projections, ADA will be traded at $0.432047 on May 23, 2024. Additionally, it will lose 5.69% value in this process.”
The platform also states that by June 14, Cardano could gain approximately 4% in value and be traded at $0.48.
“According to our current Cardano price prediction, Cardano price is predicted to rise by 4.80%. In this context, it is predicted to reach the level of 0.480098 dollars by June 15, 2024. Cardano has recorded 11/30 (37%) green days with 4.44% price volatility in the last 30 days.”
ADA 2024 Forecast
The platform also prepared a 2024 price forecast for ADA. According to current statistics, it is possible for ADA to reach $1 by the end of 2024 if it follows the current market momentum.
“Cardano is estimated to trade between $0.421611 and $1.859121. If it reaches its upper price target, ADA is likely to rise 300.08% to $1.859121.”
