Why ADA Price Is Surging?
Amid continued market volatility, the cryptocurrency space has experienced a strong bullish recovery over the past few hours. ADA price has since regained momentum and recorded double-digit price surges in its respective portfolios.
Will Cardano price maintain the bullish price sentiment in the coming days and reach a new 52-week mark? In this article, CoinPedia presents short-term market sentiment, price analysis, and possible targets for the world’s 09th largest cryptocurrency.
Cardano price successfully retested its important support level!
ADA price increased by 7.26% in 24 hours, with a trading volume of $2.279 billion, a change of -10.89%. The altcoin surged over 100% in 30 days despite a 5.61% retracement in the past seven days.
The Relative Strength Index (RSI) has successfully retested the neutral point and moved sharply higher into overbought territory on the daily time frame. Additionally, the average trendline is trading near the upper limit, highlighting strong bullish price action.
On the other hand, the Moving Average Convergence Divergence (MACD) is showing a rising red histogram on the Cardano price chart. This altcoin is hinting at mixed price sentiment this week as its average price has witnessed a significant downward trend.
Will the ADA price reach $1.6 this December?
If the market favors the bulls, the Cardano coin will retest its $1.20 resistance. Furthermore, if the bullish sentiment persists, this altcoin could reach a higher price target of $1.40 before the end of the year.
Conversely, if the bears outperform the bulls, the ADA token may retest the $1 mark. Furthermore, if bearish sentiment intensifies, this could pull the price of this altcoin towards lower support at $0.800.
Find answers to questions like “Will Cardano hit $3?” Read our Cardano Price Prediction. Also, subscribe to CoinPedia to stay connected with the cryptocurrency world.
FAQ
Considering the current market sentiment, 2024 ADA price may end at a bullish price of $1.42.
As the adoption of cross-border financial systems continues to increase, the price of the Cardano token may reach $10.32 by 2030.
With the increase in bullish price action, the price of ADA coin may cross the $2.5 mark in 2025.
