Cardano Price Eyes $5 After 17% Surge

Cardano has drifted in the green zone as it trades at $0.7093, up 11% in the past day and over 17% in the past week. The trading volume is also up over 65%, which shows growing investor interest. 

Whale Accumulations On the Rise

Onchain data from Santiment also showed whale accumulations. Whales holding between 100,000 to 100 million ADA have increased their holdings since April 14, further adding to the bullish sentiment.

Expert Dan Gambardello thinks that Cardano will face strong resistance around $3, where many investors regret not selling before. He expects some price volatility in that area, before it eventually rises to $5, like a quick stop before the next big jump.

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Analysts Predict ADA Surge Up to 1000%

Cardano held strong at the $0.50 support level on April 7 and has since rallied 21% in two weeks. If Cardano keeps rising and breaks above the 200-day EMA (Exponential Moving Average) at $0.71, the next resistance could be at $0.74, possibly reaching $0.80. This could be a major psychological level for traders. The RSI (Relative Strength Index) is also currently at 57 and trending upwards. 

Analyst Javon Marks foresees a 354% surge for Cardano to as high as $2.91. His outlook is based on ADA’s current chart pattern. ADA may follow Bitcoin’s lead in a broader market rally through April.Additionally,  Martinez shared that Cardano is breaking out and predicts the next target could be $0.77.

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