Altcoin News

Cardano (ADA) Price Spikes, Reaching a 3-Year High

-Cardano (ADA) price spikes over $0.94, reaching a 3-year high.
-However, ADA has recently launched a Mary hard fork.
-Moreover, the crypto can rally its price even further to over +50% from its current trading position. 

Cardano (ADA) price surged over $0.94, reaching for the first-time since 2018. Moreover, ADA has seen great performance and a lot of development in the last few months.

Cardano Price Skyrockets Reaching a 3-Year High

ADA price spiked over $0.94 today. However, the cryptocurrency price is still quite far away from it’s all-time high price of $1.33, which it reached on January 4, 2018.

Moreover, Cardano is one of the huge coins by market cap. More so, ADA has recently launched a Mary hard fork. This finally brought smart contract functionality to its testnet. The upgrade is expected to arrive on mainnet by the end of the month. However the excitement has just begun, and it pushed the project’s price pretty high.

According to CoinGecko, the ADA price is at $0.88, at the time of writing.

ADA/USDT Price Chart (Source: TradingView)

The graph above shows great performance of ADA in the last 24 hours. Currently, ADA trades at a high price $0.88 per crypto. Indeed, a bullish position favored by investors.

If this trend continues, ADA, along with the bulls, might overtake its $0.95 resistance level and climb higher. In short, the crypto can rally its price even further to over +50% from its current trading position. Naturally, there is a big chance that this will happen if the crypto continues to win its investors’ trust.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone ADA from its uptrend position. In simple terms, the price of ADA might plummet to almost $0.81, a bearish signal. 

In this case, ADA must recover and climb up again to the bullish level above $0.95. Otherwise, the bearish market might overcome the position of the crypto and pull ADA even lower. 

The News Crypto Staff

The News Crypto is a group of crypto journalists writing about the latest happenings in the crypto and blockchain industry.

Related Articles

Back to top button