Will Cardano (ADA) Price Hit $1 Again Soon?

Will Cardano (ADA) Price Hit $1 Again Soon?
-Cardano (ADA) price expected to reach over $1. 
-The cryptocurrency ADA has attracted a lot of investors’ attention.
-Moreover, ADA’s price surge is also due to the exciting upgrade.
-However, ADA seems poised to reach new all-time highs in the near future.

Cardano’s (ADA) price is back in the green after breaking through a crucial resistance barrier, hoping to reach over $1 soon. 

Will ADA Reach Over $1 Soon?

Cardano is the sixth-largest cryptocurrency in terms of market capitalization. Moreover, Ryan Selkis, the founder of Messari, believes Cardano will reach one of the top 5 positions by market capitalization within 2021.

In addition, Crypto analyst Lark Davis, predicts that Cardano (ADA) will reach $1 soon. Also, he added that ADA might reach $4 or $5 as well.

So far in 2021, the cryptocurrency has attracted a lot of investor attention after its price spike to $0.45, a ATH price in the past two and a half years. However, with the market being volatile, predicting the crypto price is one of the challenging tasks. 

According to CoinGecko, the ADA price is at $0.42 with a 24-hour trading volume of over $3.6 billion, at the time of writing

ADA/USDT Price Chart 1-Month (Source: TradingView)

The graph above shows ADA/USDT performance in the past few days. More so, the crypto can be seen to run along with the bulls in breaking the resistance level of $0.43. This can lead to a high price of $0.5. Furthermore, if the bullish trend continues, the crypto can go even high over $1 in a few days.

Added to this, the number of large transactions with a value of $100,000 or greater has risen by 270%. From 1,070 transactions in late January to nearly 4,000 transactions as of February 2. 

Such market behavior indicates that whales or high-net-worth individuals are once again interacting on ADA’s network. Furthermore, the ADA’s price surge is also due to the exciting upgrade lined up on the network for 2021. 

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A Professional HR with a huge interest in blockchain technology and cryptocurrency. Through her content writing skills, she became a passionate contributor to the crypto space. Being an active crypto enthusiast she is investing her time and experience into the digital sphere.