Cardano

2024

Ouroboros

<div class="finbold">
 <p class="paragraph">Amidst a challenging cryptocurrency market, Cardano (ADA) shows signs of a robust recovery, with artificial intelligence (AI) models forecasting an upward trend in the coming weeks.</p>
 <p class="paragraph">As the cryptocurrency market continues to navigate through a mix of bearish and bullish signals, Cardano has emerged as a notable performer. After a tumultuous start to the month, where prices fell to as low as $0.4051, ADA has demonstrated a significant recovery, surpassing several critical resistance levels.</p>
 <p class="paragraph">Earlier in April, ADA experienced a steep decline from the $0.60 range, cascading through support levels at $0.550 and $0.500. However, recent developments have painted a different picture as ADA not only recovered but also breached the pivotal $0.500 mark at the press time, indicating a potential reversal of the bearish trend.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Gold on a rollercoaster ride as ‘excellent opportunity’ emerges <span class="self-center text-xs text-slate-500">47 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Buy signal for two cryptocurrencies with negative funding rates <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    S&amp;amp;P 500 to surge 19% by 2025, Bank of America says <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    AI <a rel="noopener noreferrer nofollow" title="predicts" href="https://thebittimes.com/tag/predicts.html">predicts</a> Gold <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> for May 1, 2024 <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-ai-predictions-and-market-sentiments">AI predictions and market sentiments</h2>
 <p class="paragraph">The short-term outlook for ADA, according to AI predictions from sources like <em>CoinCodex</em>, remains optimistic. By May 23, 2024, ADA is expected to increase by 4.55%, reaching approximately $0.534035. Before that, the machine learning algorithm sets a <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of $0.494680 for ADA by May 1, 2024.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="560" src="https://cdn.thebittimes.com/images/2024/04/24/26b3e19ed078dfd9816b3defd6b1b356.webp" alt class="wp-image-171150" srcset="https://cdn.thebittimes.com/images/2024/04/24/26b3e19ed078dfd9816b3defd6b1b356.webp 1024w, https://cdn.thebittimes.com/images/2024/04/24/26b3e19ed078dfd9816b3defd6b1b356.webp 300w, https://cdn.thebittimes.com/images/2024/04/24/26b3e19ed078dfd9816b3defd6b1b356.webp 768w, https://cdn.thebittimes.com/images/2024/04/24/26b3e19ed078dfd9816b3defd6b1b356.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Cardano 1-month price prediction. Source: <em>CoinCodex</em>
  </figcaption>
 </figure>
 <p class="paragraph">This projection aligns with the overall bullish conditions observed in the market, despite the neutral sentiment currently prevailing.</p>
 <p class="paragraph">The Fear &amp; Greed Index, standing at 71 points, suggests a shift towards ‘Greed,’ further substantiating the favorable forecast.</p>
 <h2 class="wp-block-heading" id="technical-analysis">Technical analysis</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="534" src="https://cdn.thebittimes.com/images/2024/04/24/05162a580cac673060a71e192eec1f35.webp" alt class="wp-image-171151" srcset="https://cdn.thebittimes.com/images/2024/04/24/05162a580cac673060a71e192eec1f35.webp 1024w, https://cdn.thebittimes.com/images/2024/04/24/05162a580cac673060a71e192eec1f35.webp 300w, https://cdn.thebittimes.com/images/2024/04/24/05162a580cac673060a71e192eec1f35.webp 768w, https://cdn.thebittimes.com/images/2024/04/24/05162a580cac673060a71e192eec1f35.webp 1497w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ADAUSDT 1 month chart. Source <em>TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">Over the past week, ADA USDT&nbsp; has shown a pronounced upward trend, moving from a low of $0.444295 on April 17, 2024, to a high of $0.509638 by April 23, 2024. This period marked significant <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> recovery and increased trading volume, indicating strong buyer interest.&nbsp;</p>
 <p class="paragraph">Technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA)suggests immediate resistance near the week’s peak at $0.519864, while support has formed around the $0.505011 level. The consistent closing <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s above $0.500 suggest this might serve as a robust support zone if the bullish momentum continues.</p>
 <h2 class="wp-block-heading" id="network-developments-and-future-prospects">Network developments and future prospects</h2>
 <p class="paragraph">Charles Hoskinson, the founder of Cardano, continues to express optimism about the network’s future amid recent criticisms. He highlights Cardano’s robust standing within the blockchain ecosystem, underscoring its innovative strategies in scalability, governance, and community engagement.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Seeing all the dunking on Cardano makes me smile a bit. We are holding all the cards as an ecosystem. We have the best path for scalability, governance, and innovation. We also have the best community.<br><br>Chang is coming soon as measured by progress on SanchoNet. Ouroboros Leios is… pic.twitter.com/11RTXaDrZU</p>— Charles Hoskinson (@IOHK_Charles) April 7, 2024
   </blockquote>
  </div>
 </figure>
 <p class="paragraph">Cardano’s network has seen substantial upgrades, including enhancements to its Plutus smart contracting language, which now allows porting of smart contracts from Ethereum. Additionally, the forthcoming Chang hard fork aims to introduce governance capabilities, setting the stage for community-led governance by the year’s end.</p>
 <p class="paragraph">Despite the positive indicators, it is crucial for investors to perform comprehensive research and consider all factors before making any investment decisions.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ai-predicts-cardano-price-for-may-1-2024-tbt86266.html">https://thebittimes.com/ai-predicts-cardano-price-for-may-1-2024-tbt86266.html</a></p>

AI predicts Cardano price for May 1, 2024

Table of Contents

TheBitTimes

Другие статьи, опубликованные 23 апр. 2024 г.

Breaking News: Blast TVL Hits $2B, Blast Mainnet Launch On Feb. 29

Bitcoin Price Prediction: Fidelity Says BTC Is ”No Longer Cheap” As Traders Flock To This Learn-2...

Chainlink (LINK) hits a two-year peak – How high will the LINK Price go?

Cybersecurity Breach Exposes Source Code, VPN Access of El Salvador’s Bitcoin Wallet

Tech Companies Urged to Combat Surge in AI-Generated Child Sexual Abuse Material

Top AR/VR Crypto Presale of 2024 Hits $5 Million Milestone – Crypto Gains Video Review

Join our free newsletter for daily crypto updates!