Cardano is one of the most impacted crypto coins in the realm, yet it has yet to portray its full potential. The token has long been trading under bearish lines and cannot exceed the $0.40 price. With Bitcoin finally touching the $60K mark, the market is filled with renewed hope, wondering whether ADA can finally breach past its critical price junctures.
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What’s Happening to Cardano?
Cardano is currently trading at a $0.33 price level. The token recently underwent a significant fork upgrade, welcoming governance functionalities onto its chain. Cardano’s newest hard fork embraced governance-centric elements, including manoeuvring components like on-chain governance, treasury, and voting mechanisms.
Despite ADA being a robust crypto coin with all crucial elements of success, the token cannot carve a new price path for itself.
ADA is unable to surpass its critical price resistance level of $0.34, after which the token will need to cross another two major resistance levels of $0.35 and $0.36.
“Based on today’s classical pivot point (P1) with the value of $0.344043, Cardano has support levels of $0.331971, $0.325065, and the strongest at $0.312993. Similarly, Cardano resistance levels are at $0.350949, $0.363021, and $0.369928.”
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When Will The Token Cross $0.34 and Spike Higher?
ADA is all set to breach the $0.34 mark by spring end. According to CoinCodex, the token may cross its existing price level by September 30, climbing as high as 7% to claim the $0.39 price level.
The forecast for ADA in 2024 is mellow yet significant. ADA can breach the $0.80 price level by March 2025.
Image: CoinCodex
“Cardano is forecast to trade within a range of $ 0.308013 and $ 0.871208. If it reaches the upper price target, ADA could increase by 160.59% and reach $ 0.871208.”
CC further predicts how ADA may ultimately breach the $1 price mark by May 2025.
Image: CoinCodex
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