Cardano – also known as ADA – has not yet experienced a bullish run, despite gaining enormous momentum in the industry. Cardano, also known as ADA, is one of the biggest ecosystems in cryptocurrency. Its verticals are constantly being expanded to achieve success.
The token’s inability to break through price resistance is credited with the slow price movements of ADA. Despite the slow recovery and price movement, ADA is showing signs that a breakout could be imminent, which would help the token to gain market momentum.
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Cardano Price Forecast for May
Cardano has been experiencing critical resistance in terms of price, and this is why tokens are unable to break through these price barriers. Per CoinCodexAt $0.46 and $0.48 price levels, there may be friction or resistance.
“Based on today’s classical pivot point (P1) with the value of $0.441854, Cardano has support levels of $0.42, $0.40, and the strongest at $0.39. Similarly, Cardano resistance levels are at $0.464197, $0.478186, and $0.500529.”
ADA traded at $0.45 during the time of this press release, an increase of 2% within 24 hours.
CC forecasts that ADA will surpass resistance in May and reach a price of $0.48, accelerating the pace. It is possible that the token’s price will increase by 4%, with prospects of an incredible price hike in the future. The platform also shares that ADA’s RSI indicator denotes a 36.4% metric. This indicates a neutral purchasing stance.
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ADA’s Road to $1.40
ADA is currently struggling, but it will soon reach the $2 mark. Coincodex predicts that Cardano could surge and spike by 400% by 2025, trading at $2.40.
“ADA is forecast to trade within a price range of $0.422563 and $2.39% next year. Cardano will increase by 426.25% and reach $2.39 if it reaches the higher value target for 2025.”
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Source: watcher.guru