ADA Price Prediction 25% |

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Summary of the situation

  • ADA’s price predictions show that the cryptocurrency has been in the region since early April without any price deviation.
  • If Cardano closes the day above the upper $1.2 barrier, we could see a significant move higher.
  • Cardano is currently struggling to get out of the red zone.

Based on the recent price action, Cardano seems to be on its way to breaking out of the lower range, with volatility becoming the new trend. Although the crypto asset looks bullish, it should make a decisive close above the immediate resistance level.

ADA Price forecast: Price Overview

Cardano reached a record high of $1.5 on February 27 after the price rose 65%. This positive price movement came about through sudden purchases by investors. The next day, however, Cardano’s price fell toward the $1.2 price range, forming a lower range.

Since then, Cardano’s price action has hovered around the lower price range, although it has deviated from time to time. Cardano is currently trading below the lower range, but is showing strong signs of correction. Despite the current bullish outlook, Cardano will have to settle for a bid above the immediate region of $1.17 to $1.24. A close above this critical barrier would pave the way for a potential price spike that could push the crypto asset towards the $1.5 price region. This 25% price spike to $1.5 may be short-lived due to resistance at the 50% Fibo retracement level at $1.33, so a second price spike is needed for Cardano to bypass the 50% Fibo retracement level.

ADA price fluctuations over the last 24 hours

Source: TradingView

Based on Cardano’s 24-hour price movement, the cryptocurrency is more likely to go up than down. However, this bullish outlook may not materialize if investors fail to push the cryptocurrency past the resistance zone. In this case, Cardano’s price is likely to fall by 10% to around $1.0. Price declines of this magnitude could reverse the current upside outlook and trigger a bearish outlook. If things deteriorate, Cardano’s price could fall another 12%, pushing it towards the $0.89 mark. It will be as low as the recent stock market crash.

4-hour plan ADA

Source: TradingView

According to Cardano’s 4-hour chart, the crypto-currency is about to experience bullish momentum due to continued buying pressure. The blue MACD line also confirms the bullish bias, as it is currently above the signal line. At the time of writing, Cardano is trading at $1.22. As for the technical RSI indicator, the crypto is currently heading into overbought territory, suggesting that the bullish trend is over.

For Cardano to maintain its strong bullish momentum, it needs to overcome key resistance barriers and the current lower trading range. This is important because it allows the crypto asset to create more buying pressure, which should send its price higher in the near future.

Supplement

Recently, IOHK CEO Charles Hoskinson suggested that Cardano is a million times more energy efficient than the number one cryptocurrency, bitcoin. Charles made these accusations in an interview with Forbes magazine, when he compared the two cryptocurrencies. While his comments can be criticized, the free publicity Cardano is currently receiving could have a positive effect on the price.

Denial. The information provided does not constitute commercial advice. .com is not responsible for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.

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