Cardano ADA is one of the major cryptocurrencies leading the industry. ADA has long been in the race to surpass the $1 price mark, and it appears that the Bitcoin halving could trigger the token to finally change its current price pace. ADA has fallen significantly this bull season, adopting a bearish stance, while maintaining its gradual ascent.
Bubbling anticipation is now pervading the Cardano community on X, with new opinions and predictions regarding ADA circulating. Several crypto analysts are hoping that ADA will finally go parabolic, entering a stellar price streak following the event scheduled for this weekend.
Also Read: The Future of Cardano: Can ADA’s Next Chang Fork Help It Reach $3?
How High Can ADA Rise After Bitcoin Halving Event
Cardano is a promising Blockchain network that holds immense potential and expansion strategies. The network leads all Web3 verticals, including DeFi and NFT developments. Blockchain recently won the Best Blockchain Layer 1 award, propelling its community to new levels.
According to a notable crypto analyst, Dan Gambardello, the Bitcoin Halving event can trigger ADA’s entry into its parabolic phase, which can catapult its price to new levels.
“Cardano season is coming and it’s going to be epic. ADA will enter a parabolic environment as recent trending narratives capitulate and Cardano does its thing. He shared.
ADA’s price predictions during the Bitcoin Halving event coincide with Gambardello’s predictions. According to Coinpedia, ADA is expected to end April on a positive note, climbing almost 25% after the halving to trade at $0.84.
“If ADA maintains its current momentum, there is a strong possibility of an upside breakout, pushing the price towards the high of $0.84, representing a significant increase of 25%. Conversely, if the trend reverses, ADA could revisit the 50% Fibonacci level, again testing its resilience.
Also Read: Cardano: ADA Falls to $0.46, Prepares for Parabolic Jump, Analyst Says
Another notable crypto analysis platform, CoinCodex, predicts that the ADA price resistance levels will be $0.47, $0.49, and $0.51.
“Based on today’s classic pivot point (P1) worth $0.458590, Cardano has support levels of $0.440475, $0.422651 and the strongest at 0.404536 $. Similarly, Cardano’s resistance levels are at $0.476414, $0.494528, and $0.512353.
Once ADA breaks through its critical price resistance levels, the token may enter a bullish phase, reaching new price thresholds after the event.
reference: watcher.guru