Cardano ADA is one of the major cryptocurrencies leading the space. ADA has long been in the race to breach past the $1 price mark, and it seems that the Bitcoin Halving may trigger the token to finally change its current price pace. ADA has dropped significantly this bull season, adopting a bearish stance, while keeping its ascent gradual.
The bubbling anticipation is now taking over the Cardano community on X, with new opinions and predictions concerning ADA floating around. Several crypto analysts are hoping that ADA will finally go parabolic, breaking into a stellar price streak after the event scheduled for this weekend.
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How High Can ADA Rise Post The Bitcoin Halving Event
Cardano is a promising Blockchain network withholding immense potential and expansion strategies. The network has been leading all web3 verticals including the DeFi and the NFTs developments. The blockchain has recently won the best Blockchain Layer 1 award, hyping its community to new levels.
Per a notable crypto analyst Dan Gambardello, the Bitcoin Halving event can trigger ADA to enter its parabolic phase, which can send its price catapulting to new levels.
“Cardano season is approaching and it’s going to be epic. ADA will enter a parabolic environment as recent hyped-up narratives capitulate and Cardano does its thing.” He shared.
ADA’s price forecast during the Bitcoin Halving event coincides with the predictions made by Gambardello. According to Coinpedia, ADA is expected to end the month of April on a positive note, climbing nearly 25% post the Halving to trade at $0.84.
“Should ADA maintain its current momentum, there’s a strong possibility of an upward breakout, driving the price toward the $0.84 peak, representing a significant 25% increase. Conversely, if the trend reverses, ADA might revisit the 50% Fibonacci level, testing its resilience again.”
Also Read: Cardano: ADA Drops To $0.46, Gears For A Parabolic Jump, Analyst Says
Another notable crypto analytics platform CoinCodex predicts ADA price resistance levels to be at $0.47, $0.49, and $0.51.
“Based on today’s classical pivot point (P1) with the value of $ 0.458590, Cardano has support levels of $ 0.440475, $ 0.422651, and the strongest at $ 0.404536. Similarly, Cardano resistance levels are at $ 0.476414, $ 0.494528, and $ 0.512353.”
Once ADA crosses its critical price resistance levels, the token may enter into a bullish phase, climbing to new price thresholds post the event.