According to Sssebi (@Av_Sebastian), a well-known cryptocurrency expert, Cardano’s native coin ADA has made a huge move, breaking out and hitting $0.75. Sssebi voiced hope, stating, “$ADA has returned to $0.75 and is currently breaking out. More than $0.80 is on the horizon as well. “Can we see $1 this coming weekend?”
Technical analysis indicates prospects for a $1 target.
Further research of ADA’s price movement shows that the relative strength index (RSI) is currently at 63, suggesting that the price has more potential to rise. If the bulls can continue to maintain and support the important resistance level that ADA has broken, the cryptocurrency has the ability to achieve the sought $1 mark.
Current Retracement; Bulls Need to Close Higher
But it’s important to note that at the time of words, ADA’s price is currently negative, trading at roughly $0.73 while it undergoes regression. To maintain the positive trend and maybe push ADA toward its $1 target, bulls must guarantee that the daily candle closes higher, holding the broken resistance level.
Over 30% potential increase.
If ADA can continue its upward trend and break past the $0.80 threshold, it might lead to a large price increase. A shift from $0.75 to $1 would reflect a more than 30% increase in the Cardano token’s value.
As the crypto market recovers, all eyes are on ADA and if the bulls can maintain their momentum, defend the broken resistance, and even push the token to the much-anticipated $1 level.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.
