As the current value of Cardano 
$0.420957 in the cryptocurrency market trades below 0.7 dollars, market participants are anticipating an upward trend in May. Following recent declines, recovery signals are being observed, and investors believe that if key resistance levels are broken, the price could remain above 1 dollar.
Technical Indicators for ADA
On daily charts, Cardano is exhibiting technical formations that could potentially end the downtrend. A reverse head and shoulders pattern is visible within the descending wedge formation, and a successful test of the upper trend line is paving a likely path for an upward movement. Technical indicators point to the potential to reach resistance points like 0.81, 1.17, and 1.30 dollars in the short term.
Investor Expectations and ETF Process
Among developments enhancing positive market impact, steps regarding the ETF process stand out. The process initiated by large investment firms, such as Grayscale, is increasing interest in Cardano.
Eric Balchunas and James Seyffart: “Cardano ETF approval chance is assessed at 75%.”
This development strengthens investors’ positive expectations.
Market Analyses and Price Targets
Experts express that ADA needs to surpass certain milestones to reach significant levels. Analyst Ali Martinez suggests that a breakout above the 0.74 dollar level could propel the price to 0.88 dollars.
Ali Martinez: “ADA can provide a critical test at the 0.74 level.”
Similarly, market expert STEPH IS CRYPTO provides more ambitious forecasts, highlighting the possibility of significant price increases in the short term.
STEPH IS CRYPTO: “ADA could show considerable growth soon.”
The market’s development process is supported not only by technical formations but also by expectations regarding the ETF process. Investors are focused on Cardano’s upward movement from its current price level.
According to analyses, the complex structure of current technical signals and market sentiment plays a crucial role in determining short-term trends. The present situation may indicate a more defined upward trend if key levels that investors are monitoring are surpassed.
In a general assessment, optimistic expectations prevail based on both technical and fundamental dynamics alongside the recovery signals observed in Cardano. Investors believe that if current levels are breached, price movements could become more lively and directional.
