Cardano: Will ADA Reach $5 During the Bull Market?
Cardano’s native token ADA is currently trading around the $0.64 price range on Tuesday. It had reached a high of $1.14 in early March but is down nearly 43% after reaching its yearly high. The bulls are...
Cardano’s native token ADA is currently trading around the $0.64 price range on Tuesday. It had reached a high of $1.14 in early March but is down nearly 43% after reaching its yearly high. The bulls are aiming for the cryptocurrency to climb above the $1 range again but the market sentiments are pulling it down. The leading altcoin is now struggling to reclaim the $1 range as it fell 10% in the last 30 days.
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Now that the markets have briefly recovered after Trump announced a 90-day pause on tariffs, can Cardano’s ADA breach $1 and head straight to $5 during the next bull run? In this article, we will highlight a new price prediction on how high the leading altcoin could trade next. A recent price analysis on TradingView indicates that the altcoin could reach $5 if it holds on to the positive momentum.
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The latest price analysis on TradingView shows a chart of Cardano’s ADA finding resistance at $1.2 and $2.9. If the leading altcoin holds on to all its resistance levels during the bull run, the next stop for it could be $3. The analysis indicates that Cardano’s ADA could hit a new all-time high of $5 if all resistance levels are met.
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Cardano’s “ADA is loading for $5. The setup is clean: Support at $0.45. Accumulation between $0.65–$0.45 and targets $2, $4, $6,” read the price prediction. “Patience here could print fortunes,” read the forecast on the leading altcoin.
However, the cryptocurrency market is yet to experience a bull run in the near future. Trump’s trade wars and tariffs have thrown a wedge making investors flee equities and invest in gold instead. Therefore, Cardano’s ADA has less chance of sustaining around all its resistance levels to reach $5. The chances of that happening this year remain slim as several macroeconomic factors are dampening the markets.
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