Cardano cryptocurrency may grow by 60% by May

Despite a recent 5% drop, the cryptocurrency Cardano ADA $1.08 Cardano 0.47% Market capitalization $38.76 billion VOL. 24 hours $0.76 billion maintains a bullish trend. Thus, a well-known crypto analyst at Sssebi predicts an optimistic course for ADA, emphasizing the importance of the weekly chart to understand the broader context.

«Situated above its 200-week moving average, ADA is showing promise thanks to significant green candles on the weekly charts and a noticeable increase in buying momentum, signaling a strong underlying trend,» the expert comments.

Sssebi’s analysis indicates that ADA is due for a potential 50−60% surge. In particular, it points to the absence of major resistance levels until ADA reaches $ 1.2.

The forecast coincides with the analyst’s positive assessment of ADA’s current positioning and overall market sentiment.

Having analyzed ADA’s performance in the past, Sssebi noticed similarities with past market cycles, namely the one in which ADA suffered a significant drop of almost 35%. Nevertheless, ADA has not only bounced back from a significant drop, but has exceeded its previous all-time high (ATH). The analyst predicts significant growth in the coming months — ADA could reach $ 3 by May.

At the time of writing, ADA is showing a 2.14% gain and is trading at $ 0.75. The coin’s market capitalization is $ 26.9 billion. Traders made daily trading deals worth $ 968.9 million.