While the broader cryptocurrency has entered a sort of consolidation, Cardano’s native crypto ADA is showing strength bouncing off the support trendline. Over the last 24 hours, the ADA price is up by more than 10% and is currently trading at $0.3794 and a market cap of $13.1 billion.
On the technical chart, Cardano (ADA) has given a major bounce back, however, it faces strong resistance at $0.40 on the upside.
While the broader crypto market showed strong momentum this month in March 2023, Cardano (ADA) continued to exhibit volatile price behavior. While other altcoins have advanced 15-20% this month, Ceardano’s ADA is currently trading at almost flat to nil games.
Despite the subdued price action in ADA, the Cardano blockchain network continues to touch new milestones. Recently, the Cardano blockchain breached the 4 million wallet milestone. Amid this development, Dan Gambardello, founder of Crypto Capital Venture, has shared his ultra-bullish case scenario for Cardano.
The analyst expects that the Cardano (ADA) price can touch a massive $15 during the next bull run cycle. This means that the Cardano market cap will touch a staggering $500 billion
The Cardano blockchain continues to gain attention as its beta altcoin zkEVM is set to go live. Analysts expect that it would create a renewed demand for the ADA cryptocurrency.