Is Cardano Finally Ready to Prance to $1? Analysts Weigh In with Wild Speculation!

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Cardano, or as the cool kids say, ADA, is currently doing the cha-cha at a rather sprightly $0.66. Just a smidgen above its existential crisis support level of $0.65, it’s managed to strut around with a modest gain of 0.5% in the past 24 hours. However, let’s not throw a party just yet as our heroic cryptocurrency has lost a whopping 30% of its value in the past month! 🎉😱

Now, in the most nail-biting of developments (cue dramatic music), since December of 2024, ADA has been navigating what experts lovingly refer to as a “broadening wedge.” No, not a furniture piece from a hipster store—this pattern suggests all sorts of chaotic swings. Our oracle of crypto, Jonathan Carter, opines that should ADA fail to cling to its current level, it could very well tumble an additional 10%, potentially flopping down to the lower life-support level of $0.59.

#ADA

Our brave Cardano knight has once again failed to ride atop the previous support at $0.65, and it’s now ambulating towards the main support zone at $0.59 with the grace of a bewildered elephant on a unicycle. 🔍

Despite the lengthy correction (thanks for the rollercoaster ride, crypto gods), there’s still a glimmer of hope that our plucky hero can bounce back and soar to the grandiose figure of $1.00. Otherwise, well, prepare for a dramatic plunge…

— Jonathan Carter (@JohncyCrypto) April 3, 2025

But wait! Our dear Carter also foresees a ray of hope bursting through the clouds: If our valiant buyers rise to the occasion at the next support level, ADA might just rebound toward the glorious $1 mark! However, if it breaks down from this lifeline, brace yourselves for a nosedive into the abyss of despair. 😬

ADA Price Speculation and the Shuffling of Charts

On the highly sophisticated 4-hour chart (because who doesn’t love a mysterious timeline?), Cardano appears to be in a “consolidation phase.” With the Bollinger Bands tightening like a pair of jeans after the holidays, the price is teetering near that midline at a rather unremarkable $0.6585. Resistance, as it turns out, is lounging at $0.7002, while immediate support is hanging out at $0.6271 like a wallflower at a dance party.

A decisive move beyond these two would ultimately decide if we’re having a lovely fiesta or if we’re off to the gloomy land of lost opportunities.

Meanwhile, the RSI is pulling a subtle bearish divergence, one where the price attempts to leap but then remembers it forgot how to jump, which has definitely raised eyebrows among the overly enthusiastic bulls. 🐂

The MACD, on the other hand, is showing minimal excitement, lounging flat near zero, with the signal line above the MACD line, suggesting that the whales might be sight-seeing rather than stirring up any substantial waves.

Should ADA manage to climb over the frustrating wall of $0.7002, whilst the RSI gleefully dances above 55 and we witness that magical MACD crossover, traders could potentially find themselves sipping piña coladas by the shimmering shores of a rally towards $0.72 or even higher! 🍹

Cardano to $5? Hold Onto Your Hats!

In some spasms of upbeat news, Cardano has recently caught the eye of institutions and even the whatnots at the government, as they explore its potential appeal. The community has been buzzing about the prospect of ADA being among the digital assets the US Treasury might just consider stockpiling like it’s candy. 🍬

Additionally, the ever-enthusiastic investor, Alex Becker, insists Cardano is his top crypto pick, declaring it to be “the most decentralized reasonable chain next to Ethereum.” A title most coveted and a declaration that might just require a throne. 👑

JUST IN: Alex Becker claims “by far the #1 easiest bet right now is #Cardano. $ADA’s easily going to $3.00 to $5.00. It’s fast as hell and the most decentralized reasonable chain next to Ethereum. Other decentralized chains don’t have the momentum that Cardano has.”

— Angry Crypto Show (@angrycryptoshow) April 2, 2025

Becker believes that ADA could really and truly leap into the $3–$5 range while other competitors appear to be tripping over their own shoelaces!

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2025-04-04 15:10