The post Cardano Price Smashes $1 After 20% Daily Jump, Eyes on $2 Next appeared first on Coinpedia Fintech News
Cardano (ADA) has made an impressive comeback, climbing over 20% in the last 24 hours to cross the $1 mark for the first time in months. The move was much-needed because investors were waiting for a clear bullish signal from the token.
In the past day, ADA’s price surged from $0.8454 to $1.01, showing strong buying interest. This breakout could be a start of a more sustained rally, especially since Cardano has been steadily climbing since its June low. The upward trend has held firm through recent market fluctuations.
What’s Next For ADA?
From a technical perspective, ADA’s next important resistance lies between $1.17 and $1.18. This range also aligns with a trendline that had previously capped price gains around $0.95, which ADA has now successfully overcome. If the token stays above this zone, it could target the $1.24 to $1.43 range in the short term.
One analyst has said that the current rally could be part of a larger upward wave that might eventually push ADA toward $1.70, and in a highly bullish case, even $2.30. However, such targets would require continued bullish trend and favorable overall market conditions.
Bulls vs Bears
Sudden price jumps often attract quick profit-taking, which can lead to sharp pullbacks. That makes the $1 level an important level to watch, if ADA holds above it, buying pressure may increase, supporting the next leg up.
For now, Cardano has successfully regained a psychological level, and the coming days will be critical in determining whether it can build on this strength. If bullish momentum continues, ADA could be preparing for its strongest run in over a year.