Cardano April Price Prediction: Can ADA Hit $1?

Vignesh Karunanidhi
Cardano Analyst Says ADA Mirrors Last Cycle: Can It Hit $3 Soon?

Cardano, the cryptocurrency that drew inspiration from the Italian polymath Gerolamo Cardano, has been making waves in the crypto world since its introduction in 2017. Charles Hoskinson founded the project, and it has experienced significant milestones, such as the Alonzo hard fork in August 2021, which led to a remarkable 116% surge in ADA’s price the following month.

Cardano successfully implemented the highly anticipated Vasil hard fork more recently, despite encountering some challenges along the way.

As of March, Cardano’s price reached $0.6696, and recent data indicates a 3% surge in ADA’s value over the past 24 hours. With the broader cryptocurrency market experiencing a positive trend, investors and enthusiasts are eager to know how high ADA can go in April.

Also read: How High Can Solana (SOL) Rise in April 2024?

Can ADA hit $1 in April?

Various factors, including market conditions, price action, developments, supply, and use cases, will play a crucial role in determining whether ADA experiences a price change this April. Cryptocurrency experts at Changelly have analyzed ADA’s performance earlier in 2024 to predict Cardano’s price during April.

Their analysis predicts that ADA will trade with a minimum price of $0.613 and a maximum price of $0.705. Additionally, they predict that ADA will trade at an average price of $0.659.

As per the latest CoinGecko data, Cardano is currently trading at $0.6694. ADA has also surged by 3% in value over the last 24 hours. However, it is important to note that these predictions can greatly depend on the overall market conditions.

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Cardano shows notable growth over the year

Despite the recent drop, ADA has shown impressive growth year-to-date, with an 86% increase. The coin has also experienced a 13% spike in the last 30 days.

According to data from Intotheblock, 185,980 addresses purchased nearly 3.47 billion ADA for an average price of $0.70. These levels are considered crucial, as they have acted as strong barriers in the past.

After multiple rejections and an extended price squeeze, experts believe that the price is poised for a notable upswing, potentially testing higher targets.

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Bullish momentum may strengthen within the next critical range, spanning from $0.74 to $0.108. Within this range, over 444,000 addresses have purchased 1.76 million ADA at an average price of $0.913. The breakthrough of levels between $0.65 and $0.74 is essential for this scenario to unfold. However, achieving a rise above $0.66 is particularly crucial in this context.