Cardano's Price Surges 10% as Traders Eye $3 Resistance

Cardano (ADA) is currently gaining significant attention from traders as it mirrors its previous market cycle, with its price movements closely tracking global money supply trends. This pattern is reminiscent of the period before its last major rally, where gold prices peaked and capital began flowing into altcoins like Cardano. Currently, ADA is trading around $0.70, with short-term movements being choppy but the overall trend remaining bullish.

Experts predict that if market conditions remain supportive, Cardano could gain momentum by early May. The next major price targets to watch are $0.71 and $0.80, which, if broken, could pave the way for a stronger rally. However, the key psychological resistance level that stands out is $3. According to expert Dan Gambardello, this level is where many investors regret not selling during the last cycle, making it a significant barrier. If Cardano reaches this area, the rally might slow down briefly with increased volatility as some traders take profits. Gambardello likens this to a "crypto bus stop," a temporary pause before the market gears up for a possible push toward $5.

Despite the volatility in the crypto market, Cardano's current setup appears stronger than in the past. As global money trends shift and confidence returns to the market, many are closely watching ADA's next moves. The overall outlook for ADA hinges on its ability to break through the $3 psychological resistance level, which could signal a sustained bullish momentum.