$ADA
🚨 ADA price will reach $1 in May; Here’s why 🚨
Currently, Cardano (ADA) is trading in a negative zone despite attempts to recover from the recent decline. At the time of publication, Cardano is valued at $0.6978, down 0.65%. Over the past week, the altcoin has seen a decrease of 4.1% despite a rise of 7.8% over the month.
However, technical indicators suggest that ADA is on the verge of a major breakout. In the daily chart, Cardano is breaking a descending wedge pattern after forming an inverted head and shoulders pattern, which is a bullish reversal signal. After a successful test of the upper trend line of the wedge, the bullish momentum for ADA could push towards key resistance levels at $0.81, $1.17, and $1.30.
Additionally, upcoming developments such as the approval of an ETF for ADA have increased the positive sentiment surrounding Cardano.