Cardano Price Signals Green; Is It on the Verge of a $1 Hike?
2022.04.26 14:47
Cardano Price Signals Green; Is It on the Verge of a $1 Hike?
- Cardano (ADA) is predicted to reach a $1 price hike.
- Currently, it trades at around $0.89.
- Many price prediction websites forecast more surges for ADA in the future.
In contrast to the past day’s decline in the global market, most cryptocurrencies are waving green signals today. Bitcoin has climbed to a 3.57% hike in the past 24 hours. Other altcoins are also surging in their price value. Specifically, Cardano (ADA) is in a probability phase to reach a $1 price hike.
However, at the time of writing, ADA trades at a price of $0.8934 and is ninth among the top ten cryptocurrencies by market cap. The coin signals green with a 2.33% hike in the past 24 hours and a 0.45% hike in the past one hour.
Historically, ADA traded at around $0.02, when it was launched in 2017. Later in 2018, it briefly soared along with the surge in the global crypto market. In particular, it soared to an approximate price of $1.33 in January 2018, with a nearly 260% hike.
On February 20, 2021, ADA hit $1.19, marking a milestone following its frequent uptrends and downtrends. To note, this price hike is a breakthrough in the dollar barrier. In September, the coin reached its all-time high (ATH) of $3.09 after moving through trendline support.
More so, in January 2022, ADA traded at a $1.31 price and remained constant until it surged to $1.63 on January 18. This happened as Cardano hit a new milestone of planting one million trees using its blockchain. Furthermore, the coin exceeded transactions of 30 million on February 8 and reached $1.26.
ADA/USDT 1- day chart (source: TradingView)
Significantly, ADA was registered at $1.24 on April 4 and has yet to hit that price again. Still, the coin is expected to surge above its current price of $0.8934. If this trend continues to go up, Cardano might reach the $1 target. This probability might happen as the coin was trading around the highest price of $0.9 for the past two days.
Although it might not boost up directly to $1, it is expected to gradually climb over the upward trendline support. Additionally, WalletInvestor (stock market forecast) predicts that ADA price might go bullish and hit $2 in 2022. Also, a $5.89 price hike is expected in five years.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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