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Sujit Kumar
Nov 18, 2024
by Sujit Kumar

Cardano Price Surges Toward $1 After Hitting a Yearly High

Cardano Price Surges Toward $1

Table of contents

  1. ADA Price Breaks Key Levels
  2. Bearish Risks to Watch
  3. What’s Next for ADA?
Cardano (ADA) has taken the crypto market by storm, achieving a yearly high with a staggering 100% gain in the past two weeks. From hovering near critical support to doubling investor portfolios in just 30 days, ADA's impressive rally has traders eyeing its next target: $1.

ADA Price Breaks Key Levels

The ADA price surged by 5.32% in the last 24 hours, with trading volume reaching $1.844 billion. Over the past week, it recorded a remarkable 32.13% gain, signaling strong bullish momentum. The EMA 50/200-day chart has formed a Golden Cross, a bullish indicator pointing toward further upward movement.

The Relative Strength Index (RSI) remains in the overbought zone, suggesting that ADA's momentum may continue this week. If the bullish trend sustains, Cardano is poised to breach its immediate resistance at $0.7750 and advance toward $0.8875. A decisive move above this level could pave the way for ADA to reclaim the $1 milestone.

Bearish Risks to Watch

However, the path to $1 isn’t without challenges. If bearish forces resurface, ADA may retest its support at $0.6850, with a potential decline to $0.60 if sellers gain control.

What’s Next for ADA?

With its current trajectory, Cardano appears well-positioned for further gains, provided market sentiment remains favorable. Investors are closely watching for a break past $1, a psychological and technical milestone.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Cardano Price Surges Toward $1
Cardano Price Surges Toward $1 After Hitting a Yearly High
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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