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Cardano (ADA), one of the leading cryptocurrencies, has broken through the psychological barrier of $1, reaching $1.13 in the past 24 hours. This rally follows a prolonged period of consolidation between $0.35 and $0.45. Bolstered by renewed optimism in the cryptocurrency market, ADA shows strong potential for higher targets.
Cardano Price 1$: Consolidation Breakout
Cardano spent months trading in a narrow range between $0.35 and $0.45, frustrating investors waiting for a breakout. The recent surge has catapulted ADA to $1.13, marking a significant milestone and breaking its consolidation cycle.
ADA/USD 4-hours chart - TradingView
Why is Cardano Price UP?
The crypto market is abuzz with optimism, particularly in the US, where pro-crypto sentiments from the Trump administration are driving positive momentum. Globally, renewed enthusiasm for digital assets is benefiting tokens like ADA, which are riding this bullish wave.
Cardano Price Prediction: How High will ADA Price Reach?
Cardano's next price targets are $1.20 and $1.50, levels that analysts believe are within reach given the current market momentum. However, potential retracement zones include $0.92 and $0.81, offering strong support for buyers looking to enter at lower levels.
ADA/USD 4-hours chart - TradingView
With the current market dynamics favoring cryptocurrencies, ADA seems poised for further growth. If the $1.20 mark is reached, the momentum could accelerate toward $1.50, solidifying Cardano's position as a top-performing asset.