Flow

Cardano

Convergence

Optimism

Divergence

&nbsp;
Cardano price prediction: ADA has exhibited a notable bullish pattern in the past day, appreciably rising by 3% in value. Currently, <a href="https://coingape.com/price/cardano/" rel="noopener noreferrer nofollow">Cardano price</a> is at $0.5912, demonstrating a positive momentum that suggests a sustained upward trajectory. This cryptocurrency maintains its strong standing in the top ten by market cap, which is presently at $17.14 billion.
<h2 id="strong-cardano-price-prediction-a-path-to-recovery-amid-market-optimism-strong">Cardano Price Prediction: A Path to Recovery Amid Market Optimism</h2>
Over the recent 24-hour period, Cardano’s trading volume surged over 5%, totaling $534 million. This significant increase underscores the robust interest from investors and signals a healthy market environment for ADA. The continual growth in trading activity and value points to a bullish future for Cardano as it secures its position as a leading cryptocurrency.
<figure id="attachment_192688" aria-describedby="caption-attachment-192688" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-192688" src="https://coingape.com/wp-content/uploads/2024/04/Cardano-Price-Prediction.png" alt="Cardano Price Prediction" width="1417" height="829" srcset="https://coingape.com/wp-content/uploads/2024/04/Cardano-Price-Prediction.png 1417w, https://coingape.com/wp-content/uploads/2024/04/Cardano-Price-Prediction-300x176.png 300w, https://coingape.com/wp-content/uploads/2024/04/Cardano-Price-Prediction-1224x716.png 1224w, https://coingape.com/wp-content/uploads/2024/04/Cardano-Price-Prediction-768x449.png 768w, https://coingape.com/wp-content/uploads/2024/04/Cardano-Price-Prediction-150x88.png 150w" sizes="(max-width: 1417px) 100vw, 1417px">
 <figcaption id="caption-attachment-192688" class="wp-caption-text">
 Cardano Price Prediction
 </figcaption>
</figure>
Over the past week, the price of <a href="https://coingape.com/markets/cardano-price-analysis-recent-downturns-spark-investor-interest-will-ada-hit-1/" rel="noopener noreferrer nofollow">ADA</a> has fluctuated between $0.41 and $0.68. This movement suggests a lack of clear direction as both buyers and sellers vie for control. Despite the sideways price action, ADA registered a weekly decline exceeding 5%. Additionally, its monthly performance shows a sharp drop of over 23%, signaling a bearish outlook.
According to the latest data from <a rel="noopener noreferrer nofollow" href="https://defillama.com/chain/Cardano">DeFiLlama</a>, Cardano’s total value locked (TVL) has significantly fluctuated. As of now, it stands at approximately $316.48 million, which indicates the amount of assets currently staked or locked within the network’s various decentralized finance protocols.
The current market capitalization (MCap) of Cardano’s native token ADA is $16.915 billion, while its price is $0.48. Despite the Treasury showing a balance of $0, the ecosystem has successfully raised a total of $62.24 million to fund various initiatives within the network.
<h2 id="strong-market-reaction-post-bitcoin-halving-strong">Market Reaction Post-Bitcoin Halving</h2>
Following the recent Bitcoin halving, a general uptick in cryptocurrency markets has been observed. This recovery comes as various digital assets, including <a href="https://coingape.com/cardano-ada-price-soar-75-analyst-predicts-citing-technical-chart/" rel="noopener noreferrer nofollow">ADA price</a>, attempt to rebound from their previous losses. This period may prove crucial for determining ADA’s trajectory in the near term.
If investor optimism holds, Cardano’s journey could begin with a climb toward the $0.5 resistance level. Should the market continue to favor bullish trends, ADA’s price might soon flirt with the $0.8 benchmark. A further influx of bullish momentum could catapult <a href="https://coingape.com/blog/cardano-price-will-ada-price-cross-2-in-2024/" rel="noopener noreferrer nofollow">Cardano</a> to cross the coveted $1 threshold, potentially preceding Bitcoin’s forthcoming halving event.
Conversely, a resurgence of bearish sentiment could see ADA retract to the $0.45 support line under increased selling pressure. A further dip into negative territory could lead to ADA’s value sliding to $0.4.
<h2 id="strong-technical-analysis-indicators-favor-a-bullish-trajectory-for-ada-strong">Technical Analysis: Indicators Favor a Bullish Trajectory for ADA</h2>
Technical analysis, including the Moving Average Convergence Divergence (MACD), reveals a burgeoning positive trend. The positioning of the MACD line above the signal line on the chart accentuates the strength of the current bullish wave. Additionally, the Chaikin Money Flow (CMF) indicator, at 0.08, suggests growing bullish enthusiasm.&nbsp;
<figure id="attachment_192685" aria-describedby="caption-attachment-192685" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-192685" src="https://coingape.com/wp-content/uploads/2024/04/ADAUSD_2024-04-20_17-41-51.png" alt="Cardano Price Prediction: Is $1 on the Horizon Post Bitcoin Halving?" width="1154" height="588" srcset="https://coingape.com/wp-content/uploads/2024/04/ADAUSD_2024-04-20_17-41-51.png 1154w, https://coingape.com/wp-content/uploads/2024/04/ADAUSD_2024-04-20_17-41-51-300x153.png 300w, https://coingape.com/wp-content/uploads/2024/04/ADAUSD_2024-04-20_17-41-51-768x391.png 768w, https://coingape.com/wp-content/uploads/2024/04/ADAUSD_2024-04-20_17-41-51-150x76.png 150w" sizes="(max-width: 1154px) 100vw, 1154px">
 <figcaption id="caption-attachment-192685" class="wp-caption-text">
 Cardano Price Prediction|Source: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/NxM6AIHv/">Tradingview</a>
 </figcaption>
</figure>
Meanwhile, the stance of most oscillators remains neutral, hinting at a potential bullish breakout on the horizon. The Relative Strength Index (RSI) ‘s recent fluctuations denote varying investor sentiment, with the current reading at 54.59 indicating a neutral trend.
The post <a href="https://coingape.com/markets/cardano-price-prediction-is-1-on-the-horizon-post-bitcoin-halving/" rel="noopener noreferrer nofollow">Cardano Price Prediction: Is $1 on the Horizon Post Bitcoin Halving?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Cardano Price Prediction: Is $1 on the Horizon Post Bitcoin Halving?

Table of Contents

Coingape News Media

Other articles published on Apr 20, 2024

Bears Seize Control Amid BTC Halving While BlastUP Rises, Securing $4.7 Million

Optimism Crypto Hits 5-Month Low: Is It A Buy Now Opportunity?

DeeStream Offers a Silver Lining to BNB & DOT Traders as Crypto Markets Take a Hit

Trading Firm Sees $BTC at $180K This Year; $GFOX Closing in on P2E Game Launch

Bitcoin Halving Event and Its Market Impact

VC roundup: Centrifuge, Crypto Valley Exchange, Nebra lock in funding rounds

Join our free newsletter for daily crypto updates!