The Cardano project has been trading under its resistance for over a month already. With ADA getting rejected for at $0.94, the bulls have had to stay within range at support levels to prevent a price collapse.
Now, we have a lot of takes on what the Cardano price prediction is. There’s much contention over whether ADA will make its $1 target this year even as traders consider another DeFi token with potential for huge gains.
Here’s what we have on the Cardano price prediction.
Cardano Price Prediction: Is A Surge To Follow The Consolidation?
The ADA price has been hinged to a general crypto spike for a long time, as Cardano’s utilities have not started to generate interest from the general trading community. That is changing already, especially among institutional traders.
Cardano has been listed among the S&P 500 Exchange funds, a move that has made the token a lot more visible to institutional traders even before the ETFs launch. And while that contributes to a bullish Cardano price prediction in the long-term, there’s the Bitcoin surge to look forward to in the short-term.
Like other top altcoins, Cardano has been undergoing significant consolidation at the $0.81 level. The 50-day Moving Average is providing support to the token already, and the general opinion is that ADA could reach its $1 target very soon.
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