Here’s What $1,000 in Cardano Could Be Worth If ADA Hits $100, $300, or $500

cryptonews.com:

Cardano has dipped by 1% today, falling to $0.3335 as the crypto market as a whole loses 0.5% in the past 24 hours.

ADA is now down by 13% in a week and by 10.5% in a month, although the alt has risen by 15% in a year.

This latter percentage is disappointing in view of many of ADA’s rivals, with Ethereum up by 32% in the last 12 months, for instance.

But you could also argue that ADA remains highly undervalued, with an investment in the coin now potentially paying off massive dividends in the future.

Indeed, $1,000 invested into Cardano at the time of writing would give you approximately 3,000 ADA, which as we’ll show below could be worth a fortune if the coin reaches $100 or higher.

Cardano’s chart is in a very promising position, with its indicators suggesting that it could be at the beginning of a more bullish phase.

Most notably, its resistance (red) and support (green) levels have very almost converged on each other, creating a pennant that could result in a big breakout very soon.

At the same time, ADA’s relative strength index (purple) has gone from 30 only yesterday to just over 50 today, indicating a recovery in momentum.

This finds its complement in the coin’s 30-period moving average (orange), which is climbing steadily towards the 200-period average (blue), a sign of an incoming upswing.

ADA certainly warrants a sustained rally, given that it has been in an oversold position in recent months and is still 89% down from its ATH of $3.09, set back in 2021.

This gives it plenty of space for a big rise in the coming months, with Cardano’s fundamentals suggesting that it could increase substantially over the longer term.

Compared to many layer-one networks, it has seen steady development in the past few years, with its team