Cardano

Rally

Read

Epic

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Cardano (ADA) remains in an uptrend as the digital currency sets a new pace for a pathway toward the $1 price target. Undoubtedly, the market is overheated. However, several analysts are optimistic that the price of Cardano will keep soaring and might hit the $1 level soon.</p>
<h2 id="cardano-price-and-bull-advantage">Cardano price and bull advantage</h2>
<p dir="ltr">At the time of writing, the price of Cardano was changing hands for $0.8426, up by 13.83%<a href="https://coinmarketcap.com/currencies/cardano/" rel="noopener noreferrer nofollow">per</a> data from CoinMarketCap. This price boom has positioned ADA as the highest gainer in the past 24 hours.</p> <img src="https://u.today/sites/default/files/inline-images/ADA_1Y_graph_coinmarketcap%20%281%29_0.jpeg" data-entity-uuid="0f8541e5-79ad-4ffc-8be7-34063ec04638" data-entity-type="file" data-caption="<a href=&quot;https://coinmarketcap.com/currencies/cardano/&quot;>ADA 1D Price Chart. Source: CoinMarketCap</a>">
<p dir="ltr">Cardano's growth is boosted by sustained bull action, which has pushed the daily trading volume to $2.96 billion, up 77.53% in 24 hours. Earlier, Cardano scored its<a href="https://u.today/cardano-forms-first-2024-golden-cross-whats-next" rel="noopener noreferrer nofollow">first golden cross</a> for the year, proving the uptrend is imminent.</p>
<p dir="ltr">This ambitious rally in ADA's price stems from its daily low of $0.7238 to a high of $0.8466. The coin's price has broken very tiny resistances within this tight range, especially at the $0.80 level.</p>
<p dir="ltr">The ecosystem hype is high, with Cardano social mentions growing very fast. The price may respond to these sentiments; however, the tiny distance to the $1 mark might be an intense sell-off if old, profitable ADA holders choose to cash out their holdings.</p>
<h2 id="cardano-whales-might-make-difference">Cardano whales might make difference</h2>
<p dir="ltr">Cardano has the most intense whale activity among the mid-large cap altcoins, after Bitcoin. At the time of writing, data from IntoTheBlock pegs the large transaction volume north of $14.5 billion. With<a href="https://u.today/cardano-ada-whales-wake-up-from-their-sleep-en-masse" rel="noopener noreferrer nofollow">ADA whales</a> fueling scarcity, the price of ADA is likely to beat any form of minute corrections along the way.</p>
<p>The price of the Cardano has stayed at the same level, $0.80, for more than a year. This reality further reinforces the confidence that it is far from the top in this ongoing bull cycle. Overall, combining its technical and<a href="https://u.today/cardano-conducts-major-protocol-update-see-what-changed" rel="noopener noreferrer nofollow">fundamental</a> strengths may help it to breach the long-sought $1 mark soon.</p> <a href="https://u.today/cardano-ada-in-epic-rally-phase-as-bulls-fight-to-breach-1" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Cardano (ADA) in Epic Rally Phase as Bulls Fight to Breach $1

Table of Contents

U_Today

Other articles published on Nov 20, 2024

Interview: Coinbase CSO Philip Martin shares secrets to outsmarting AI scammers

Mercado Bitcoin launches MBRL stablecoin backed by the Brazilian real on Tron

Floki Inu’s Community-Driven Revival: From Rug Pull to Crypto Champion

Cardano Targets $1: Could a 30% Rally Be on the Horizon?

Kid Brother Earns $53,700 from Memecoins

Pennsylvania House of Representatives Introduces Bill to Hold Bitcoin as Reserve Asset

Join our free newsletter for daily crypto updates!