Cardano Price Prediction – Can ADA Hit $1 This Month?
Cardano (ADA) volume is up significantly in the last 24hrs after key updates from the protocol and its wider ecosystem.
As CryptoNews reported on Wednesday, Cardano could be set for a bullish move upwards with charts indicating a move above $0.50 and towards $0.60 and beyond.
Cardano continued its upward trend in the early hours before a retraction but, crucially, found key support at $0.428.
It is currently trading at $0.4321 at the time of writing, up 1% over the last 24hrs.
Cardano has long been a favorite of long-term investors but has struggled for much of 2022 and is down more than 80% since the start of the year when it traded at $2.28.
While ADA endured a bearish September like much of the rest of the crypto markets, key updates and solid token fundamentals mean it could be set for a breakout in October - which is traditionally a bullish month for crypto.
However, it appears it will be a challenge for Cardano to reach $1 in the next four weeks, given key technical indicators such as the RSI and MACD remain at below 50, indicating a bearish trend.
Experience trader Peter Brandt even claimed ADA could fall to sub $0.25 in the coming months.
He wrote: "The $ADAUSD chart is a classic descending triangle per Schabacker, Edwards and Magee and suggests a possible decline to sub .25.
"Do charts always work? -- not really, but when they do it is a thing of beauty. Note -- I do NOT short #8hitcoins"
Brandt does not trade any cryptos except Bitcoin and Ethereum and received a lot of push back for his post on the social media site.
At the end of September, Cardano revealed its Vasil hard fork upgrade, which will make it easier for other projects and dApps to build on its blockchain.
While the upgrade did not see significant price
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