Cardano (ADA) Price Forecast Alert: 60% Rally Expected in the Next 7 Days
Cardano (ADA) still has a positive outlook despite a few recent setbacks. Although ADA's value fell 5% last week, the company remains optimistic and moves forward with determination. With a market cap of $24 billion and a 24-hour trading volume of $1.14 billion, ADA is holding strong at its current value of $0.75.
Famous crypto analyst Sssebi predicts a bright future for ADA and looks at the weekly chart as a gateway to the big picture.
Promising technical indicators include ADA breaking above its 200-week moving average, a significant increase in buying activity, and several green candles on the weekly charts.
Sssebi's research paints a positive picture for ADA with a possible rise of 50-60% in the coming week. ADA's lack of a significant resistance level until it reaches $1.2 indicates that the coin is expecting a fairly flat ride in the near future.
The analyst's optimistic view of ADA's current position and market attitude is in line with this prediction.
Looking at the weekly chart should assuage any concerns you may have about ADA.
Strong weekly green candles and dominant buying demand pushed it above its 200-week moving average.
Still, ADA has not only rebounded from a major disruption, it has surpassed its previous ATH. The analyst expects a sharp rise in the coming months and, using this historical perspective, predicts that ADA could reach $3 by May.
Building a Strong Foundation: The Hidden Powers of ADA
In addition to short-term projections, ADA is said to lay a strong foundation for future expansion. By successfully maneuvering between important support and resistance levels, the cryptocurrency is proving its resilience.
Notably, the 50-day moving average is 0 for ADA when prices pull back.It provides solid support at $58.
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