Cardano Price Forecast: ADA plan for new all-time high is clear

  • Cardano price broke out of an ascending triangle pattern on the 12-hour chart.
  • The digital asset faces just one crucial resistance level before new all-time highs.
  • Cardano’s network activity has significantly increased in the past week.

Cardano has established a new all-time high of $1.55 on April 14 and bulls aim for more now. The digital asset had a significant breakout from a key pattern but still faces a significant resistance barrier ahead, according to on-chain metrics.

Cardano price on its way to $1.65

On the 12-hour chart, Cardano formed an ascending triangle pattern that can be drawn with a horizontal line and another trend line connecting the higher lows until both converge. 

The breakout of this pattern has a price target of $1.65. Initially, ADA spiked to $1.55 but dropped to retest the previous resistance trend line. Bulls have successfully defended it and aim for a massive rebound toward $1.65. 

ada price

ADA/USD 12-hour chart

The In/Out of the Money Around Price (IOMAP) chart shows only one crucial resistance level between $1.45 and $1.46, where 69,000 addresses purchased over 2.2 billion ADA coins. A breakout above this initial price target should swiftly push Cardano toward $1.65.

ada price


Additionally, the network growth of Cardano saw a significant spike on April 13 and remains in an uptrend for the past two weeks. This indicates that investors are still interested in buying and transacting with ADA even at current prices. 

ada price

ADA Network Growth

However, on the 2-day chart, the TD Sequential indicator has presented a sell signal that has not been invalidated yet. This signal increases selling pressure for Cardano. 

ada price

ADA 2-day chart

The IOMAP model shows the most significant support area is located between $1.19 and $1.23, where 202,000 addresses purchased 3.67 billion ADA. The sell signal is not likely going to push Cardano lower than this. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

BTC struggles, while ETH dominates and XRP pursues $2

Bitcoin price having trouble shaking the magnet effect of a critical intermediate-term moving average, despite broader strength in the cryptocurrency market.

More Crypto News

Dogecoin price targets $1 as the chase for high-yielding cryptos accelerates

Dogecoin price strength combined with the complementary volume highlights the continued fascination in the digital token, portending further gains in the days ahead.

More Dogecoin News

SXP rally interrupted raising the probability of 20% decline

Swipe price action in May has been counter-productive for a bullish outlook, as three failed attempts above the August 2020 high have forged a head-and-shoulders top pattern that projects a noteworthy decline in the coming days.

More Swipe News

ETC looks primed to retrace following 260% rally

Ethereum Classic price displays a lack of bullish momentum as it consolidates below $96.94. A 15% pullback to the immediate demand zone that ranges from $72.23 to $79.37 seems likely. ETC will face a make-or-break point around this support barrier.

More Ethereum News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast