Cardano Hits $1 For The First Time In 2.5 Years: $1.5 This Week?

Cardano (ADA) seems to have broken past its barriers. The asset struggled to gain momentum over the last few years and slipped out of the top 10 projects by market cap earlier this year. ADA has gained significant traction over the previous few weeks and has breached the $1 mark for the first time since April 2022.

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ADA Price Fluctuations

ADA’s price is down 1% in the daily charts, likely due to Bitcoin’s (BTC) latest correction. Despite the dip, ADA is up 38.2% in the weekly charts, 82.4% in the 14-day charts, 216.2% in the monthly charts, and 168.9% since November 2023.

According to Cryptocurrency analysis firm Santiment, Cardano’s market cap has tripled over the past 17 days. The project is currently the 9th largest crypto by market cap.

According to CoinCodex, ADA may face a correction this week. The platform predicts ADA to trade at $0.956 on Sunday, Dec. 1, 2024. CoinCodex analysts anticipate the asset’s price to pick up steam by the end of December 2024. ADA may surge to $1.94 by Dec. 31, 2024. Hitting $1.94 from current price levels will entail a rally of about 84.76%.

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Changelly also paints a similar picture for Cardano (ADA). The platform anticipates ADA’s price to dip to $0.901 on Sunday, Dec. 1, 2024. Like CoinCodex, Changelly analysts also expect ADA to gain momentum by the end of December. The platform predicts the asset to trade at $1.11 on Dec. 24, 2024.

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The predictions around Cardano (ADA) are quite bullish. The asset may rise to new yearly highs over the next few weeks. Despite the bullish outlook, ADA is still down by 66% from its all-time high of $3.09.