Popular Analyst Michael Van de Popp predicts Cardano Price to surpass $5. As RSI factor of ADA hit an All-time low of 15.25 indicating an overbought state
ADA has no major support level around $2.4 but the technical analysis seems quite positive
Popular crypto analyst Michael Van de Popp, predicts that Cardano (ADA) is all set to hit the $5 milestone soon. Also, he claims that ADA might surge beyond that.
Michael Van de Poppe attributes his ADA prediction relating to its historical price flows and Bitcoin price flow. On 7th September, ADA reached an RSI level as low as 15.25 indicating an overbought scenario. Poppe pointing out to this predicted ADA price has the potential to reach newer highs.
Earlier to this, the analyst predicted BTC price would heavily fall to $43k from $50k. If it fails to find support between $48k to $49k. Because his technical analysis clearly indicated no major support level between $43k to $48k. Continuing the same Popp suggested, as the currency is repeatedly retesting around $50k, holding BTC between $45k to $46k could bring good profits.
How Cardano Price Can Reach $5?
As ADA’s orders were filled in the last two days, Popp said Cardano’s significant bounce is true. With a slight uptrend, Cardano broke the $2.4 resistance level reaching $2.59 at the press time. Looking at the trend, ADA’s positive price rally could be substantially true. The price could soon break its resistance level at $3.35 and said the next stop for ADA lies near $3.80.
According to his technical point of view, the ADA price would easily climb to the $5 level if it finds support between $2.5 to $3. At the same time, the possible price dip cannot be neglected. Pointing to historical analysis and referring to Bitcoin’s trend, the strong support levels are still misty.
Collectively, the Cardano price looks perfect to follow an uptrend that can hit the immediate resistance levels. Moreover, $2.4 would be a good support zone to gain profits and also vital levels to hold on to. If ADA breaks at $3.80 then the price could easily surpass $5 within the current bull cycle.