Cardano ADA is still in the race to reach $1 post-Bitcoin Halving

Bitcoin Halving is holding flags for almost every token in the crypto market. Cardano’s ADA is no different, except the surge the community expects is massive. Bitcoin alone is expected to experience a soft decline and not a significant climb. Nevertheless, ADA is predicted to break the milestone of $1 after Bitcoin Halving, an event that is likely to happen on April 20, 2024, along with the Runes upgrade.

Dan Gambardello, a notable crypto enthusiast, believes that ADA will form a parabolic structure after Bitcoin Halving. Assuming that happens, Cardano’s bearish stance will certainly be reversed.

Cardano has been in the race to chase the $1 mark for a long time—probably since one can remember. ADA is at $0.4665, with a surge of 2.75% in the last 24 hours. It could be the excitement among the ADA holders, but the token will further rise in the days to come. An initial climb is estimated at 25% to set the stage for another milestone.

The network is driven by NFTs and DeFi and its potential and expansion strategies as one of the most promising blockchains.

As per Dan, Cardano season is fast approaching, and it could be one of the most epic moments for the ecosystem. There is a hyped narrative around Cardano’s ADA, wherein members are optimistic that it will do what it does best. Current resistance levels of ADA are at $0.47, $0.49, and $0.51. The current listed value has hit the resistance level, and the revised support marks are $0.44, $0.42, and $0.40.

Bitcoin is listed at $65,018.91, up 3.52% in the last 24 hours. It was previously close to the mark of $60,000. While it has retraced from $73,000, the current climb is still noteworthy. It is above the low of $60,000, paving the way for the next ATH, which could be $100k by the end of this year, 2024.

Cardano could simultaneously benefit from the Chang Fork. The update essentially aims to boost the performance of the network. If it does, then there is no denying that Cardano will prosper. Chang Fork deployment is likely to resolve network performance and scalability issues. This has caused some analysts to predict that ADA could eventually surpass the $3 mark. A tentative timeline has not been anticipated, but it could happen in the next 1-2 years, provided ADA scores a dollar after Bitcoin Halving.

Altcoins are practically poised to rise after Bitcoin’s Halving. They have already attracted the interest of investors and traders across the market.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button