As Bitcoin surpassed $30,000 for the first time since June 2022 and Ether continued to rise in April, approaching $2,000, investors are turning to altcoins such as Cardano (ADA) price in the hopes that cryptocurrencies will continue to outperform other major asset classes amid expectations that central banks will pause rate hikes. PricePredictions has predicted the price of Cardano’s token at $0.42 by April 30, 2023, in this scenario.
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Cardano 30-day price projection | Source: PricePredictions
Meanwhile, according to the charts, Cardano changed hands at $0.401 at press time, representing a 5% increase on the day.
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ADA/USD 4-hour chart | Source: TradingView
The attitude on the one-day gauges at the financial and crypto analytics platform TradingView is exceptionally bullish for Cardano and advises a strong buy at 17, as summarized by oscillators at 3 and MAs pointing to a sale at a strong buy at 14.
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Cardano 1-day price gauges | Source: TradingView
Cardano whales have been active in the market over the last two weeks. These whales have amassed 560 million ADA tokens worth $218.4 million. This trend indicates that Cardano is growing more appealing to institutional investors and high-net-worth individuals.
Read more:
- Cardano Whales Seem To Be On Radical Move To Accumulate ADA At Discount
- Cardano Whales Accumulate Over 150 Million ADA
- Cardano (ADA) Is Very Close To A Strong Breakout, Here’s Why?
- Bitcoin Dominance (BTC.D) Appears Bearish Signal, Is Mini Altcoin Season Coming?