Cardano's ADA Is Making Steady Gains After a Week of Market Downturn, Promises to Hit $4 by May

Cardano's ADA is making steady gains after a week of market downturn. The token's 24h trade volume has surpassed BNB for the 3rd time in a row

Cardano's ADA is showing promising gains despite a week of market downturn, with its 24h trade volume surpassing BNB for the 3rd time in a row, according to CoinGecko. This indicates greater market activity and interest in the altcoin compared to BNB during this specific timeframe.

As the token continues to recover, crypto analyst Alex Becker is surprising everyone with his bullish projections for the token. A controversial figure, especially within the ADA community, Becker has previously expressed pessimistic views about the asset, sparking controversies. However, in his latest analysis, he is presenting a strong bullish case.

"I would be stocking up on $ADA right now. It’s probably going to $4.00. We’re looking at phenomenally insane gains on Cardano, ” the analyst stated in the video podcast.

Price-wise, the token has easily found support at the $0.60 level and is currently being scooped up at $0.65. However, it is encountering a strong resistance level at $1.9; unless the asset clears the formidable "selling wall" at $1.9, the path is relatively clear of major obstacles.

Once the initial resistances are overcome, some suggest $ADA could reach as high as $20.

"New ATH is inbound here! Short term we target $1 first," wrote the analyst on X.

Cardano Foundation CEO Makes Big Visa-Level Claims

Further adding to the bullish narrative, CEO of the Cardano Foundation, Frederik Gregaard, at a recent summit, described the blockchain as "technologically advanced." It is built different!

Highlighting its high throughput, low latency, and reliability, Gregaard also noted that the network infrastructure is scalable and efficient enough to handle the transaction volume and demands of major payment processors like Visa and Mastercard.

"Visa and Mastercard could easily run on Cardano. 90+ million transactions in a single day, permissionless, public, and powerful."

Gregaard recently revealed that the team is working with NASA on track and trace, data provenance, and satellite data. "$ADA can do Merkle Patricia Tries (MPTs); we put the entire Bitcoin protocol on the blockchain. Every single Bitcoin TX is automatically recorded," he shared with an interviewer on March 15.