In the last 24 hours, Cardano (ADA) price rose over 20%, surpassing the psychological $1 mark for the first time in months. This movement was anticipated as investors sought clear signs of a bullish trend.
Revived Interest in ADA
Over the past day, ADA's price surged from $0.8454 to $1.01, indicating a growing buying interest. Overcoming key price levels may signal the beginning of a more sustained rally as Cardano has steadily recovered since its June lows.
Future Prospects for Cardano
From a technical perspective, the next important resistance level for ADA lies between $1.17 and $1.18. This range also aligns with a trendline that previously capped price gains around $0.95. If the token stays above this zone, it could target the $1.24 to $1.43 range in the short term.
Market Expectations
The cryptocurrency market is prone to sudden shifts, and price spikes can lead to quick profit-taking, which may cause sharp pullbacks. Thus, the $1 level becomes vital to monitor: if ADA holds above this level, buying pressure may increase, supporting the next leg up. If bullish momentum continues, ADA could be preparing for one of its strongest runs in over a year.
In the coming days, it will be critical to monitor Cardano's dynamics. Successfully holding above the $1 mark could influence further growth and the attainment of new price levels.
