Cardano, which is traded in the crypto currency market, is under $ 0.7, while market participants expect to rise in May. While the recovery signals are monitored after the recent decline, investors evaluate that the price may be above $ 1 in case of significant resistance levels.
Technical indicators for the island
In daily graphics, Cardano shows technical formations that can end the decline tendency. While the opposite head and shoulder structure is monitored in the falling iron formation, the success of the upper trend line paves a possible ground for the rise. Technical indicators indicate the possibility of reaching resistance points such as 0.81, $ 1.17 and $ 1.30 in the short term.
Investor expectations and ETF process
Among the developments that increase the positive impact on the market, steps towards the ETF process stand out. The process initiated by Grayscale, one of the major investment organizations, raises interest in Cardano.
Eric Balchunas and James Seyffart: “Cardano ETF’s chance of approval is 75 percent.”
This development strengthens the positive expectations of investors.
Market analysis and price targets
Experts, the island to reach significant levels should overcome certain milestones, he says. Analyst Ali Martinez, a break on the level of $ 0.74, the price can carry the price for $ 0.88 claims.
Ali Martinez: “The island can provide a critical test of 0.74 level.”
Similarly, market expert Steph Is Crypto points out that the price may increase in the short term by making more ambitious estimates.
Steph Is Crypto: “The island can shortly rise in a short time.”
The development process of the market is supported by expectations for the ETF process as well as technical formations. Investors focused on the upward movement of Cardano’s current price level.
According to the analyzes, the complex structure and market sensitivity of the existing technical signals play an important role in determining short term trends. The current situation may indicate a more significant rise trend if the lock levels followed by investors are exceeded.
In the general assessment, optimistic expectations based on both technical and basic dynamics are dominated by the recovery signals observed in Cardano. Investors think that if the current levels are broken, price movements can follow a more lively and directional course.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
