Cardano is currently embarassing a gradual price pace. The token is ascending to new price levels and has adopted a slow price stance as compared to its contemporaries. However, per ADA analysts on X, ADA’s bull run is undeniable as the token is moving at a set, predictable pace, especially with the impending Bitcoin Halving.
Analyst Trend Rider on X issued a positive response to traders who are busy disseminating negative reviews, sharing that Cardano may continue to project bearish sentiment. The analyst was quick to predict a new price trend, adding that the ADA is poised to hit a new ATH very soon.
Amid the rampant review on X, the event of Bitcoin halving is also nearing hard and fast. The event is fueling hopes for Cardano to embrace the massive wave of fund influx that will be triggered after the Halving event.
Also Read: Cardano ADA’s Bull Run Is Undeniable, Predicts Analyst
Cardano and Bitcoin Halving
ADA has been one of the leading coins to rule the crypto market space. The token has lately been documenting a gradual price hike, which has been a major cause of concern among ADA traders.
However, investors are now looking forward to the event of Bitcoin halving, which may inflate ADA’s price to hit new price highs very soon. The Bitcoin Halving event is scheduled for April 20–21. The episode will consist of BTC undergoing a colossal infrastructural change. This change will entail slashing miner rewards in half to keep the scarcity quotient of Bitcoin in check.
This event may also trigger notable price volatility in the crypto market, compelling investors to put their funds into alternative crypto tokens. Cardano is poised to gain from this scheduled crypto market mayhem that the event is bound to trigger soon.
Cardano Post-Bitcoin Halving Price
Per CoinCodex, Cardano might shed 6% of its gain to align with the halving mayhem post-April 20.
“Based on these Cardano projections, ADA will be changing hands at $0.461670 on April 22, 2024, losing -6.02% in the process.”
However, ADA may gain some of its lost fortune and value back post-April 2024.
“Cardano may rise by 4.56% and reach $0.513650 by May 15, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 74 (greed). Cardano recorded 15/30 (50%) green days with 8.33% price volatility over the last 30 days.”
The platform has also shared Cardano resistance price level thresholds, where ADA may encounter maximum resistance and blockages.
Also Read: Cryptocurrency: Top 3 Crypto Coins Slated To Deliver Top Returns Post Bitcoin Halving
“Cardano has support levels of $0.443890, $0.419788, and the strongest at $0.403325. Similarly, Cardano resistance levels are at $ 0.484454, $0.500916, and $ 0.525018.”