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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. 

The News Crypto Staff

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

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