Cardano, popularly referred to as ADA, is yet to encounter a bullish streak, despite gaining massive momentum and credibility in the space. The token boasts one of the largest ecosystems, which is consistently working towards expanding its verticals to ensure success on all possible fronts.
ADA’s slow price movement has been accredited to the stubborn price resistance levels that the token has failed to breach in the past. However, despite the slow price movement and recovery, ADA shows signs of a possible breakout soon, which will eventually help the token gain massive market momentum.
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Cardano Price Forecast for May
Cardano is currently encountering critical price resistance, which is why the token is unable to cross past such price barriers. Per CoinCodex, the token may encounter friction or resistance at $0.46, $0.48, and $0.50 price levels.
“Based on today’s classical pivot point (P1) with the value of $0.441854, Cardano has support levels of $0.42, $0.40, and the strongest at $0.39. Similarly, Cardano resistance levels are at $0.464197, $0.478186, and $0.500529.”
At press time, ADA is trading at $0.45, up 2% in the last 24 hours.
For May, CC predicts ADA to jump past resistance and trade on the $0.48 price level, amping up a notch. The token may note a 4% surge in its price, with prospects indicative of a stellar price rise in the near future. The platform further shares how ADA’s RSI index denotes a 36.4 metric, indicating a neutral buying stance for ADA.
Also Read: Cardano: How High Can ADA Trade This May?
ADA’s Road to $2.40
ADA may show signs of struggle as of now, but the token is forecast to hit the $2 milestone soon. According to Coincodex, Cardano may spike and surge by nearly 400% to trade at the $2.40 price level by 2025.
“ADA is forecast to trade within a price range of $0.422563 and $2.39% next year. Cardano will increase by 426.25% and reach $2.39 if it reaches the higher value target for 2025.”
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