Price Analysis

Cardano (ADA) Price’s Retest Successful, $5 Incoming Soon!

Highlights

    Cardano price, which was in the process of a trend-defining retest attempt, was successful in doing so.

    With the bullish weekly close, breaking more upside suggests the next resistance levels for the price would be above $5

Cardano price once again showcases its strength by remaining bullish during the weekly close. By not losing the momentum, ADA price which remained rock solid above $1 amid the crash, is looked as one of the profitable investments in 2021. 

Continuing the bullish streak, cardano price is expected to rally hard to the next levels breaking the upper barriers. However, the asset may rally as high as $5 as predicted by a popular analyst, Micheal de van Poppe.

Currently, all eyes are on monthly close as the higher the gains, the more intensified would be the bull run. According to an analyst RESEARCH 24/7, ADA price may record a double-digit gain to close the trade for May.

Also Read: A Pretty Bullish Case Emerges For Cardano Price, Is $2 On Cards?

Cardano Price Analysis

The ADA price by sustaining successfully above $1 in the times of market destabilization demonstrated the strength to face the extreme conditions. And hence kept the bullish momentum uplifted, the price smashed $1.5 levels earlier and currently also successfully tested $1.6 levels.

ada surge

Despite a dip in the volume, the price maintained its uptrend and successfully tested the upper resistance limit.  A similar trend was seen with MATIC price as it recovered more than 60% in a very short time frame, yet maintained a sideway trend since then. 

On the other hand, ADA rallied slowly yet steadily and heading strongly towards its ATH around $2.4. Considering the price at the press time that stands at $1.66 with a jump of 1.88%, flipping the downtrend. 

Technical Specifications

  • The resistance levels are at $1.79
  • The support levels are at $1.44
  • The indicators point out a buy signal

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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