Cardano ADA Price To Surge In May After Recording Loses In April According To Latest Cardano Technical Analysis 

Cardano news has been about how Cardano Shelly is going to change the game for the Cardano blockchain after implementation. While the Cardano platform is one of the most promising platforms in the space, the price of the ADA token has been declining along with the rest of the cryptocurrency market except for the days when it traded bullish and outperformed the market. Our Cardano news today is a summary of how the Cardano ADA token did in April and how it is going to perform in May. The may Cardano price prediction is bullish irrespective of the current price of Cardano.

Cardano News Today – ADA News – Cardano Price Prediction – Cardano ADA Forecast – ADA Price Prediction For May

On April second, the entire cryptocurrency market was recording gains against the USD. Cardano ADA price was as high as $0.1 by the 3rd of April. This was around the same time that the price of Bitcoin moved above the $5000 mark. However, the rest of April wasn’t so bullish. The market correction started and took the price of cryptocurrencies lower against the USD. The price of Cardano started decreasing slowly until it reached $0.068 on the 24th of April. The month of April is about to end and investors are eager to read the May Cardano price prediction.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.0371.67%

At the time of writing, Cardano was trading inside a descending wedge pattern. When you trace the low of $0.082 that was reached on the 4th of April after the high of $0.10, you’ll find a descending support line and a descending resistance line according to the Cardano ADA price analysis on Beincrypto.com. The Cardano technical analysis on the website used the relative strength index and the MACD to analysis the price action in other to come up with the May Cardano price prediction.

The closest resistance for Cardano is at $0.084 and since the relative strength index is currently in the oversold region, it’s only a matter of time until the price of Cardano ADA breaks above this region. Moving above the resistance at $0.084 will pave a way for more gains against the USD and Cardano will be able to breakout of the descending wedge.

Cardano ADA News Today – Cardano ADA Current Price – ADA Price Prediction For May – Cardano Price Prediction 2020

Yesterday, our Cardano news was about the Cardano price prediction 2020. The Cardano Shelly upgrade and many other anticipated releases all made the Cardano price prediction bullish.

At the time of writing, ADA, just like every other cryptocurrency in the market, was trading in red against the USD at $0.069289. This means that it is down by 4.39% against the USD and down by 1.43% against the price of BTC. The trading volume over a 24 hour period is $106,213,925 and the market capitalization is $1,796,450,452. Even if the current price isn’t impressive, Cardano ADA is certainly primed for a bull run this May.

What do you think about the Cardano ADA news today? Will the May Cardano price prediction be bullish or will the price of ADA continue in a downtrend throughout May? Share your thoughts in the comment section.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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