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03/10/2024

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Cardano (ADA) Hints Bullish Surge: Analysts Set Sights On $3

You are here: Home / News / Cardano (ADA) Hints Bullish Surge: Analysts Set Sights on $3 Cardano (ADA) continues to demonstrate resilience as it approaches a significant resistance level. The coin’s...

Cardano (ADA) Hints Bullish Surge: Analysts Set Sights On $3

You are here: Home / News / Cardano (ADA) Hints Bullish Surge: Analysts Set Sights on $3

Cardano

Cardano (ADA) continues to demonstrate resilience as it approaches a significant resistance level. The coin’s trajectory remains steadfast, steadily ascending in value. Over the past month, ADA has experienced a notable 40% surge, indicating strong investor confidence. Even in the past week, it has managed to maintain its upward momentum with a modest 2% increase.

As of now, Cardano is valued at $ 0.742292 with a strong trade volume of $ 991.93M for the past 24 hours and a market capitalization standing at about $ 25.10B. ADA’s recent slight change saw its price increase by 2.75% in the last day; such signs imply that it still attracts attention and can grow further soon enough.

Source: CoinMarketcap

Cardano (ADA) Potential To Hit $3

Crypto analyst Sssebi’s bullish outlook on ADA’s price trajectory stems from several factors converging in favor of the cryptocurrency’s upward momentum. With Bitcoin recently breaking its all-time high (ATH) and showing signs of continued upward movement, the analyst anticipates that ADA will follow suit. 

This sentiment is further reinforced by the technical analysis, which shows that ADA is ready for another big move towards challenge of the $0.75 resistance level. As market dynamics align favorably, investors are more likely to show interest in ADA and invest in it, resulting in an upward move.

ADA’s future looks bright; the analyst predicts significant milestones over the next several weeks and months going ahead. With Bitcoin bullish momentum still ongoing, there are expectations that ADA will take advantage of this trend hence probably going beyond $1 mark effortlessly. This optimistic outlook extends into the summer months, where Sssebi predicts that ADA could reach impressive price levels ranging from $2 to $3.

The current prevailing market sentiment is largely bullish, although there is a small 10% bearish sentiment, according to Changelly’s composite analysis of technical indicators. Fear & Greed Index suggests that investors are extremely greedy as its level stands at 81.

Projections based on Cardano price fluctuations at the beginning of 2023 predict that the average ADA price will be about $0.721 in March 2024. Nonetheless, prices will fluctuate and may reach lows around $0.663 and highs up to approximately $0.780.

Related Reading |  Epic Bitcoin Surge Signals Record-Breaking Bull Run 

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