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Does the value of Cardano (ADA) reach one dollar? Bollinger indicators show an obstacle to surpassing it.
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Saturday, 17/05/2025 - 12:38
The possibility of a breakout for Cardano has recently been hinted at through the Bollinger Bands setup.
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Cardano (ADA) has lost 4.04% of its market value over the past seven days, amid ongoing market volatility. The coin has failed to stabilize above $0.80 in every attempt to break through the resistance level.
Bollinger Bands indicators suggest an imminent increase in volatility.
However, the key indicator for Cardano may offer hope for the coin, suggesting the possibility of recovery.
It is noted that Bollinger Bands indicators suggest the possibility of ADA reaching new levels in the cryptocurrency market. The current situation shows that Bollinger Bands are narrowing their price range, indicating a potential sharp price increase.
To clarify, this technical indicator helps market participants measure its volatility. When it contracts, it indicates decreased volatility, which usually precedes a significant price movement.
The upper range of the Bollinger indicator is $0.8544, while the lower range is $0.6257. This indicates a narrowing of the bands, and the likelihood of the price rising to the dollar level is high.
Article Image
Cardano price chart. Source: TradingView via CoinMarketCap
As of this writing, the trading price of ADA is $0.7630, an increase of 2.63% over the past twenty-four hours. With Cardano's price remaining within a neutral range on the bands, the coin's price may swing in either direction, depending on ecosystem factors.
Community momentum will be key to Cardano's trajectory.
As Charles Hoskinson recently pointed out, all cryptocurrency projects need community support for growth. Currently, Cardano requires investors to renew their interest in ADA.
The trading volume of the asset decreased by 26.30% to $864.37 million. This decline followed a drop in ADA's price, which led it to $0.7373 in previous trades.
The rapid recovery of Cardano, trading above $0.75, indicates ADA's resilience. Therefore, if ADA can surpass $0.8544 with strong support from trading volume, it may target $0.95 or one dollar.
However, if the community does not intensify its trading activity and ADA fails to hold at this level, the price may drop significantly.
