Cardano (ADA) Price Prediction for April 2
Cardano Price Prediction
The post Cardano (ADA) Price Prediction for April 2 appeared first on Coinpedia Fintech News
It seems like ADA, Cardano’s native token, has successfully retested its crucial support and is repeating its previous move. However, due to market uncertainty, the asset is facing difficulties and struggling to gain momentum.
Current Price Momentum
At press time, ADA is trading near $0.67 and has experienced a modest price surge of over 0.50%, which was previously 4.5%. However, due to uncertainty, the token lost its gains.
Meanwhile, during the same period, the asset’s trading volume dropped by 20%, indicating lower participation from traders and investors compared to the previous day.
Cardano (ADA) Technical Analysis and Price Prediction
According to expert technical analysis, ADA recently visited a key support level of $0.63, which has a history of strong price reversals or rebounds. ADA has always seen strong buying pressure at this level, leading to an upside rally. This time, the asset has formed a Doji candle at the support level on the daily timeframe, hinting at potential upside momentum.
Based on recent price action, if ADA remains above the $0.63 level, there is a strong possibility it could soar by 25% to reach $0.85. However, since the current market isn’t bullish, it would be difficult to see such an upward move. Instead, we may see price consolidation between the $0.63 and $0.70 levels over the next few days.