Cardano ADA Eyes $7 Amid Bullish Breakout Signals and Institutional Shifts

Cardano (ADA) is showing strong signs of a bullish breakout, with analysts projecting a potential surge to $7, reminiscent of its 2021 rally. Key drivers include technical patterns, network upgrades like Hydra and Midnight, and growing institutional interest as capital shifts from Bitcoin to ADA.

Cardano Price Prediction: $ADA Targets $7 as Bullish Breakout Forms

Cardano (ADA) is poised for a major breakout, mirroring the 2021 breakout pattern and targeting $7. market analysts observe historical patterns and technical formations supporting a bullish price trend. The cryptocurrency is set to benefit from passive capital inflows and indexes, as well as network growth driven by Hydra and Midnight upgrades. Institutional investors are shifting funds from Bitcoin to Cardano, which could push the price higher.

Cardano Price Prediction Hints at $1.50 as M2 Liquidity Aligns With Technicals

After a slow and steady stretch, the ADA Cardano price might be setting the stage for something bigger. The price has been sitting in a tight range, just below key resistance zones. With the recent increase in global liquidity, a move is anticipated. Technical indicators such as long-term double bottom patterns and shorter-term triangle formations are building a positive case for ADA. At the time of writing, Cardano (ADA) was trading at around $0.61, up 0.36% in the last 24 hours. Source: Brave New Coin.

180 Million ADA Sold in 5 Days—Are Whales Losing Faith in Cardano?

Retail investors are excited about Cardano’s (ADA) recovery, however, large holders (whales) have sold off 180 million tokens over five days to take profits. The price of ADA rebounded from early-week lows, reaching above $0.63 after strong support at $0.594. Crypto analyst Ali (@ali_charts) noted that the selloff was due to whales taking profit. The coin is considered bullish if it stays above $0.60, but a fall below $0.50 indicates a deeper downtrend.

Cardano (ADA) Price May Still See 14% Breakout

The price of Cardano (ADA), the 10th-largest cryptocurrency by market capitalization, is currently down on the daily and weekly charts. However, historical records show that April has occasionally produced outstanding returns for Cardano, with an average price increase of 14.6% over the past nine years. The highest growth rate in April was registered in 2018, soaring by 119.2%, while the second-highest growth occurred in 2020, with returns reaching 55.9%. This historical performance provides insight into possible market sentiment for ADA this month.