$ADA
🚨 ADA Price to Hit $1 in May; Here’s Why 🚨
Currently, Cardano (ADA) is trading in a negative zone despite its attempt to recover from the recent downturn. At press time, Cardano is valued at $0.6978, down 0.65%. Over the past week, the altcoin experienced a dip of 4.1% despite a surge of 7.8% in a month.
However, technical indicators suggest that ADA is on the cusp of a major breakout. In the daily chart, Cardano is shown breaking out of a falling wedge after forming an inverse head and shoulders pattern, a bullish reversal signal. After a successful retest of the wedge’s upper trendline, ADA’s upward momentum may push it towards key resistance levels at $0.81, $1.17, and $1.30.
In addition, upcoming developments like the ADA ETF approval have further bolstered the positive sentiment surrounding Cardano.