Cardano ADA Has Surged By More Than 150% Since January and Higher Highs are on the Way

Cardano
  • Cardano ADA Has Surged By More Than 150% Since January and Higher Highs are on the Way
  • Analysts Have Said That ADA is one of the Most Bullish Tokens in the Market

Cardano News Today – Everyone knows that Bitcoin is the most popular cryptocurrency in the market. Even if altcoins have been trying to steal Bitcoin’s thunder, it remains the foremost cryptocurrency per market capitalization dominating more than 60% of the market. Out of all the altcoins in the market, Cardano ADA is among the most promising. This year, the ADA token and the Cardano blockchain have gotten extra media coverage and exposure. The Cardano Shelley mainnet launch and all the accompanying developments have promoted the popularity of the token. Analysts from across the cryptocurrency space believe that the ADA token is one of the most bullish against the USD.

Cardano Price Prediction – Cardano ADA is One of the Most Bullish Tokens in the Space

Since the beginning of the year, the Cardano ADA token has surged by more than 150%. So, you can understand why the token is tagged as one of the most bullish in the market. The token is going to remain bullish indefinitely according to on-chain metrics. While Bitcoin and many other tip tokens have also experienced a surge, the ADA token is rising more than five times faster. There is still room for the token to rise against the USD. Weiss Crypto Ratings, a cryptocurrency analytics firm has said that Cardano ADA has the potential for greatness in the cryptocurrency industry. Their official Twitter handle posted “ADA is one of the most bullish looking price charts of any major crypto assets right now. New 2020 highs, and it looks like it could keep going.”

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.111

During the 2017/2018 bull run, Cardano ADA reached an all-time high of $1. Since then, the token has been unable to retest this level. Weiss Ratings and many other analysts believe the token now has what it takes to reach this $1 level and even set a new record if the bulls retain control of the market. A few days ago, Nik Patel, a top technical analyst in the cryptocurrency industry said that Cardano has a bullish outlook and it has found key support. Regarding the technical charts, he said;

“Cardano continues to look bullish, finding support in [an important] area. Looking at the daily, trendline support has remained rock solid since March capitulation, and resistance continues to be turned to support. I am expecting a continuation of the rally to follow, with $0.11 as the next area of trouble.”

There are still those who believe that the ADA token is going to face resistance soon. However, there is no evidence to support a bearish uprising any time soon. The token is currently trading at $0.095576 with a $287,555,959 24 hour volume and $2,478,012,034 market capitalization.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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