Altcoins

Attention Traders This Is When Bitcoin Could Push Cardano’s ADA Price Up By 35%!

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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May 23, 2022

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  The crypto town has been recovering from the ruins of the bear run, which left a myriad of tokens underwater. The market capitalization of the industry is now up 2.24% over the previous day, at $1.31 trillion. While BTC and ETH are holding at their respective crucial levels around $30k and $2k. The crowned Ethereum killer “Cardano” at the time of press is changing hands at $0.55. 

Successively, with the Vasil Hardfork now inching closer to its debut in June. Marketers have rolled up their sleeves for Cardano’s ADA. As the upgrade is poised to boost the smart contract capabilities of the network. 

Are These The Entry Zones For Double-digit Gains?

  After sweeping the lows at $0.46 on the 12th of May, ADA price is now testing its support at $0.549. Cardano is presently facing stiff resistance from the bears, amidst the selling pressures. However, the bulls have been fighting back, which is helping the price stay afloat. Going south, the price of ADA might visit the support levels at $0.487. Which could then drop to $0.471, if the altcoin loses breath. 

On the flip side, the optimism of the hard fork event could seek impetus from smart money players. Who could push the price to the upside at $0.615. Moreover, if the star crypto Bitcoin manages to surge towards the $36,000 milestone. Cardano’s ADA might suit up towards the $0.67 mark, giving good double digit gains for investors. 

Summing up, while the planned developments have been in favour of Cardano and ADA’s price projections. The accumulation of whale holdings in the 100,000 to 1,000,000 tokens territory further reinstills faith for the near future. 

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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