Cardano continues to capture attention with its price movements throughout 2024. Recent analyses suggest that ADA's current trend mirrors last year's patterns.
Similar Trends of 2024 Summer and February
Market expert Master Kenobi notes that ADA is undergoing a consolidation phase similar to that of August-September 2024. The recovery following fluctuations during that period serves as an important reference point for understanding the current situation. The expert emphasizes the absence of new low levels post-August 5, with similar price resistance observed following the sharp correction in February.
May Expectations for ADA's Price
Currently, Cardano trades around $0.6646. Although this is still a low value compared to its all-time high of $3.10, the increasing interest from institutional investors has bolstered expectations for a price rise. After an extended price compression, there is a significant likelihood of strong upward movement in May.
Long-Term Prospects and Market Behavior
Market experts assess that ADA could reach the $1 level in the short term, paving the way for a more sustained upward trend. Fundamental indicators, on-chain data, and investor behavior support this viewpoint. However, experts remind investors to remain prepared for volatility, as seen in the past.
For investors considering Cardano’s long-term potential, the upcoming months could be critical. A sharp rise following consolidation could further strengthen the belief that ADA is repeating its 2024 price model.
