ADA Joins BTC and ETH Price Surge. Can We Expect $1 Soon?

ADA Joins BTC and ETH Price Surge. Can We Expect $1 Soon?
  • Investors await the Vasil hard fork launch
  • Cardano performs over a 6% 24-hour growth rate
  • ADA may reach $1 and beyond soon 

Cardano (ADA) remains the hottest digital asset in the cryptocurrency space. The nearing launch of the Vasil hard fork can be a reason to consider why Cardano is so popular. Additionally, the price of Cardano in the market is doing great despite the bearish market. Crypto analysts in the space cannot overlook these events.  

Cardano recorded a 24-hour growth rate of over 6% at the time of writing, joining the ranks of cryptocurrency titans like Bitcoin and Ethereum.  

Source: TradingView

As seen in the chart above, the technical indicators RSI and MACD maintain their uptrend position. RSI moves within the 70-30 level, meaning Cardano is neither overbought nor oversold. Through this, day and scalp traders can continue their trading activities without worrying about major price reversals.

On the other hand, MACD is seen to move above the signal indicator. This means investors can still expect Cardano to perform a bullish price trend in the following days. However, if MACD begins to move downward, crossing the signal indicator, ADA price may fall. 

Furthermore, if the RSI of the crypto goes over either level 30 or 70, Cardano may experience a major price reversal.

To sum it all up, if Cardano maintains this uptrend momentum and increases its market capitalization by inviting more investors to the platform, Cardano may reach the skyrocketing price of $1. Even more, if the bullish market remains in favor of the cryptocurrency, ADA may create history again to reach new ATH. 

Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether expressed or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers perform their own in-depth research before investing in cryptocurrency.

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José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.