Cardano

Toncoin

April

The advancement of Cardano (ADA) towards the $1 price mark constantly faces obstacles: the token is experiencing noticeable sell-offs, echoing the overall cryptocurrency market downturn. Recently, the token has been dubbed a ‘crypto zombie’ due to its inability to make significant progress. 
In a TradingView post on April 16, cryptocurrency trading expert Alan Santana acknowledged that ADA is only realizing a portion of its potential. However, he believes that technical analysis points to a significant breakthrough. 
The analyst noted that 2023 was a year of recovery for Cardano. As for the current period, he views the ongoing correction phase not as a setback, but as a precursor to an upward trend. Santana now anticipates the formation of a long-term bottom indicating the start of a major bull market for ADA. 
ADA Price Analysis. 
Next ADA target price Speaking of target levels, the analyst speculated that in the next bull cycle, the token could surpass the $7 level, reflecting a substantial increase of more than 1300% from the current price. 
At the same time, the analyst emphasized the importance of identifying a ‘buying zone’ for investors looking to capitalize on Cardano’s long-term potential. 
Another crypto analyst, Ali Martinez, noted in early April that crypto whales are slowing down their activity, signaling potential consolidation for ADA. 
Lately, ADA has faced challenges: the token has slipped from the top 10 cryptocurrencies by market capitalization, giving way to Toncoin (TON). ADA’s trajectory, somewhat resembling XRP’s dynamics, does not attract traders’ attention like many other digital currencies. 
ADA’s price largely depends on the development of the Cardano blockchain. At the moment, the network has recorded significant smart contract activity (6466), with transaction volume reaching 89 million.

Cardano enters a long-term buying zone ahead of a 1300% jump

Blocksays

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