Cardano ADA holders are in for a treat this bull season as new positive ADA predictions continue to pour in.
The token has adopted a gradual crypto stance this season, moving slowly and steadily. Per CoinMarketcap, ADA is down 1.6% and trading at $0.58. The token has yet to encounter bullish price action, leaving its holders to anticipate wild price theories to satiate their minds.
Amidst such high scrutiny, a notable crypto analytics channel on X, Trend Riders, has come up with a positive prediction for ADA, instilling hopes in the hearts of Cardano holders.
Also Read: Cardano: ADA Price Prediction Post-Bitcoin Halving
ADA Will Go Parabolic Soon, Analyst Says
Trend Riders, dubbed notable crypto analysts on X, shared a new ADA price prediction update. Cardano is poised to go parabolic per their analysis, as the analyst emphasized the ADA’s current price momentum.
In a detailed thread uploaded on X, the analysts corroborated and compared the historical data of ADA to draw positive price parallels.
“With its second RSI crossover in history, it’s reminiscent of when prices soared from $0.05 to $3. This rare event, marking a potential trend shift as the RSI crosses its SMA, has flawlessly predicted past cycle shifts at its early stages.”
The analysts shared that Cardano’s RSI and SMA crossover are indicative of ADA’s price streak soon. The crossover is suggestive that ADA may soon enter a parabolic zone, projecting a stunning price peak very soon.
Trend Riders further reiterated how ADA is moving at an expected rate and is currently undergoing a gradual bull phase.
RSI and SMA indicators are oscillators that measure the moment of price movements and sways. Speaking about it in detail, the analyst shared a reference to elaborate on his theory. Trend Riders shared how the first crossover happened when ADA was at level C19, and soon after the crossover, Cardano experienced exponential growth in its price.
The channel later shared how the same crossover is now being repeated, indicative of its price entering a bullish phase soon. The analysts also shared how the timing is perfect for traders to explore ADA for the long haul.
The Token’s Price Prospects For April-May
With positive predictions pouring in from all sides, Cardano is holding its ground steady while encountering moderate price fluctuations. The token has recently slipped from the top ten cryptocurrency market cap list, which has been adding more fuel to the growing fire.
Also Read: Cryptocurrency: Top 3 Crypto Coins Slated To Deliver Top Returns Post Bitcoin Halving
Per Coincodex, Cardano is expected to encounter a few price upheavals shortly. However, the crypto will eventually pick up pace post-April, up 4% and trading at $0.61.
“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 4.45% and reach $0.612083 by May 11, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 76 (extreme greed). Cardano recorded 14/30 (47%) green days with 8.08% price volatility over the last 30 days.”
Another crypto analytics platform, Changelly, predicts ADA to secure 8% gains by the end of April 2024.
“Crypto experts expect an average ADA rate of $0.582 in April 2024. Its minimum and maximum prices can be expected at $0.535 and $0.630, respectively.”