The post Cardano Price Eyes $5 After 17% Surge appeared first on Coinpedia Fintech News

Cardano has drifted in the green zone as it trades at $0.7093, up 11% in the past day and over 17% in the past week. The trading volume is also up over 65%, which shows growing investor interest. 

Whale Accumulations On the Rise

Onchain data from Santiment also showed whale accumulations. Whales holding between 100,000 to 100 million ADA ($0.71) have increased their holdings since April 14, further adding to the bullish sentiment.

Expert Dan Gambardello thinks that Cardano will face strong resistance around $3, where many investors regret not selling before. He expects some price volatility in that area, before it eventually rises to $5, like a quick stop before the next big jump.

Analysts Predict ADA Surge Up to 1000%

Cardano held strong at the $0.50 support level on April 7 and has since rallied 21% in two weeks. If Cardano keeps rising and breaks above the 200-day EMA at $0.71, the next resistance could be at $0.74, possibly reaching $0.80. This could be a major psychological level for traders. The RSI is also currently at 57 and trending upwards. 

Analyst Javon Marks foresees a 354% surge for Cardano to as high as $2.91. His outlook is based on ADA’s current chart pattern. ADA may follow Bitcoin’s lead in a broader market rally through April.Additionally,  Martinez shared that Cardano is breaking out and predicts the next target could be $0.77.