Cardano Price on a Rollercoaster, Will ADA get to $15? -Breaking
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Cardano price on a rollercoaster. Will ADA go to $15?- Is trying to make an impressive comeback.
- Cardano may be back in the spotlight thanks to tech upgrades
- Cardano may even surpass $15 according to some analysts.
Just a few days ago, the Cardano (ADA), price surged by a significant amount. This is a sign that crypto might be making a comeback.
Cardano gained roughly +16% on May 4. However, this bullish rise was halted when it crashed to $36,000. Cardano’s gains of +16% on May 4, however, were wiped out by a crash to $36,000. The market is still looking promising and could see an upswing.
There are many reasons why this outlook is so positive. One reason could be the increase in investors who flock to altcoin. This may be due to upcoming tech upgrades like the much-awaited Hydra upgrade. Cardano’s network can process as many transactions as 1 million per second (TPS), if all goes according to plan. Several analysts have said that once Hydra starts running, Cardano’s price could skyrocket to even $15.
Cardano’s growing wallet count is another important reason why you should believe Cardano will see an increase in its value. According to some reports, the number of wallets that hold ADA has increased by 1600% over 2020. Apart from the wallet numbers multiplying, Cardano’s total value locked (TVL) has also continued to grow considerably.
Cardano will have to overcome some obstacles in order to climb again. It seems that the $0.90 level is the most significant obstacle. Passing this barrier will open the path for Cardano’s price to retest the $0.96 level which roughly coincides with the 50% retracement level at $1.01.
ADA is trading at a reasonable price of $0.793516 as of the writing of this article, falling 8.1% over the last 24 hours. Cardano looks good considering all positive developments. It is possible to jump 33% to $1 with the increase in its price.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora advises its users to research cryptocurrency before making any investment.
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