Cardano

As Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) climbed above $30,000 for the first time since June 2022 and Ethereum (<a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) continued to record gains in April, closing in on $2,000, investors are now turning to altcoins such as Cardano (<a href="https://finbold.com/guide/how-to-buy-cardano/" rel="noopener noreferrer nofollow">ADA</a>) in hopes <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a> keep outpacing other major asset classes amid expectations that central <a href="https://finbold.com/guides/banking/" rel="noopener noreferrer nofollow">banks</a> will pause rate hikes.In this context, the machine learning-based algorithms over at the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> price tracking and forecast platform PricePredictions have set the price of <a href="https://finbold.com/guide/how-to-buy-cardano/" rel="noopener noreferrer nofollow">Cardano’s token</a> at $0.42 by April 30, 2023, according to the most recent <a href="https://pricepredictions.com/forecast/cardano" rel="noopener noreferrer nofollow">data</a> retrieved by Finbold on April 11.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/818ebabde58c43b9b6af895d5b3dd42f.jpg" />Cardano 30-day price projection. Source: PricePredictionsUsing technical analysis (<a href="https://finbold.com/guide/technical-analysis/" rel="noopener noreferrer nofollow">TA</a>) indicators like moving averages (<a href="https://finbold.com/guide/moving-average/" rel="noopener noreferrer nofollow">MA</a>), moving average convergence divergence (<a href="https://finbold.com/guide/macd-indicator/" rel="noopener noreferrer nofollow">MACD</a>), Bollinger Bands (<a href="https://finbold.com/guide/bollinger-bands-definition/" rel="noopener noreferrer nofollow">BB</a>), and relative strength index (<a href="https://finbold.com/guide/rsi-indicator/" rel="noopener noreferrer nofollow">RSI</a>), the algorithms project an increase of 3.6% compared to ADA’s price at the time of publication.<h2 id="header-0">Cardano price analysis</h2>Meanwhile, Cardano was at press time changing hands at the price of $0.41, recording a rise of 5% on the day, according to the charts.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2789660cee3743e8bdfd20fbae63b983.jpg" />Cardano 1-day price chart. Source: FinboldThe <a href="https://www.tradingview.com/symbols/ADAUSDT/technicals/?exchange&#61;BINANCE" rel="noopener noreferrer nofollow">sentiment</a> on the one-day gauges over at the <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">finance</a> and crypto analytics platform TradingView is extremely bullish for Cardano and suggests a ‘strong buy’ at 17, as summarized from the <a href="https://finbold.com/guide/stochastic-oscillator-definition/" rel="noopener noreferrer nofollow">oscillators</a> standing in the ‘buy’ zone at 3, and MAs pointing to a sell at ‘strong buy’ at 14.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/23a961238145409c851e7c6bf44d3d3e.jpg" />Cardano 1-day price gauges. Source: TradingViewNotably, Finbold <a href="https://finbold.com/cardano-whales-go-on-a-huge-shopping-spree-buying-up-ada-dip/" rel="noopener noreferrer nofollow">reported</a> on April 10 that Cardano <a href="https://finbold.com/guide/what-is-hodl/#Whale" rel="noopener noreferrer nofollow">whales</a> (large holders) have been engaging heavily in the market over the past two weeks.These whales have acquired a total of 560 million ADA tokens, amounting to a $218.4 million in value. This trend suggests that Cardano is becoming increasingly attractive to institutional investors and high net worth individuals.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">FInbold.com</a>.

Machine learning algorithm sets Cardano price for April 30, 2023

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Finbold

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