Cardano ADA is one of the leading major cryptocurrencies in the space. ADA has long been battling to break through the $1 price mark, and the Bitcoin halving seems like it may be the trigger for the coin to finally change its current price rhythm. ADA has fallen sharply in this bull season, taking a bearish stance while maintaining a slow rise.
Now, new opinions and predictions about ADA are sweeping the Cardano community on X. Several cryptocurrency analysts are hoping that ADA will finally go parabolic and break through the stellar price action after this weekend’s events.
How high can ADA go after the Bitcoin halving event?
Cardano is a promising blockchain network with huge potential and expansion strategy. The network has been leading the development of all web3 verticals, including DeFi and NFT. The blockchain recently won the Best Blockchain Layer 1 Award, taking its community hype to new levels.
According to Dan Gambardello, a well-known cryptocurrency analyst, the Bitcoin halving event could trigger ADA to enter a parabolic phase, causing its price to surge to new levels.
“The Cardano season is upon us and it’s going to be epic. As the recently hyped narrative succumbs and Cardano starts to do its thing, ADA will enter a parabolic environment,” he shared.
ADA’s price prediction for the period of Bitcoin’s halving event is in line with Gambardello’s predictions. According to Coinpedia, ADA is expected to end April on a positive note, rising by nearly 25% after the halving to trade at $0.84.
“If ADA maintains its current momentum, there is a high chance of an upward breakout that could push the price to a peak of $0.84, which would represent a massive 25% gain. Conversely, if the trend reverses, ADA could revisit the 50% Fibonacci level, testing its resilience once again.”
Another well-known crypto analytics platform, CoinCodex, predicts ADA price resistance levels at $0.47, $0.49, and $0.51.
“Based on the classic pivot point (P1) which is worth $0.458590 today, Cardano’s support levels are $0.440475, $0.422651, and the strongest support is $0.404536. Similarly, Cardano’s resistance levels are $0.476414, $0.494528, and $0.512353.”
Once ADA breaks above its critical price resistance level, the coin is likely to enter a bullish phase and climb to new price thresholds following the event.
