Cardano Price Prediction: Breakout Run Eyes ADA Price At $1

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Price Analysis
Cardano Price Prediction: Breakout Run Eyes ADA Price At $1
Author: Sohrab Khawas

Feb 29, 2024 12:19
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Story Highlights
Cardano price brigns a high momentum bull run, accounting for a 7.31% jump.

The bull run teases a sharp jump to break above the $0.68 mark.

The bullish breakout of the $0.68 peak can result into a bull run to potentially $1.

With the Bitcoin price reaching the $64,00peak, the crypto industry crosses the $2.30 Trillion mark with altcoins roaring. Amidst the top coins, the ADA price is gaining momentum for a breakout rally.

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Escaping the falling channel followed by a successful retest of $0.57, the altcoin is racing to a new 52W high. In this recovering market, will Cardano reach the $10 mark? Check out our Cardano price predictions to find out.


Source: TradingView

With a bullish takeoff from the $0.57 retest, the ADA price is making a streak of green candles and accounts for 18%. Further, the recovery rally is challenging the previous peak formation at $.682 for a new 52-week high.

Currently, the ADA price trades at $0.675 with an intraday growth of 7.31%, which projects a potential bullish breakout. Further, the 134% hike in the intraday trading volume supports the ongoing frenzy. With a market cap of $24.25 billion, Cardano ranks at #8 amongst the top coins.

As per the Fibonacci levels, Cardano is ready for a new peak, which can result in the rounding reversal breakout. In such a case, the bull run is inevitable.

Technical indicators:

MACD Indicator: With the ongoing reversal, the MACD and signal lines are diverging for a bullish crossover. This marks a trend reversal in Cardano’s price trend and teases a bullish jump.

Will ADA Price Reach $1?
With the bulls out of control, the crypto market is rising to new heights and teasing a strong recovery in altcoins. In this bull market, the breakout rally of $0.70 can boost the ADA price to new heights and potentially reclaim the $1 mark.

Therefore, closing above the $0.70 mark will signal an entry spot for sideline traders.

Cardano (ADA) Price Analysis
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Price Analysis
Ethereum (ETH) Price To Surge More Than 30% in March With Altcoins Seeing 5x-10x Rally!
Author: Elena R

Feb 29, 2024 12:25
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The market leader, Bitcoin, recorded a high of approximately 64K for a short period last night, following which the BTC price recorded a significant correction of over 7% in valuation.

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On the other hand, the leader in altcoins, Ethereum price, continues to trade positively, indicating a massive bullpower in the cryptocurrency market. Further, the ETH price is currently only 29.11% away from its new ATH, highlighting a high possibility of massive price volatility in the coming time.

This Is When The ETH Price May Hit A New ATH!
The Ethereum price has added 6.52% within 24 hours and 53.18% over the past 29 days, making it a positive month for ETH. Further, the ETH price successfully breached the $3,600 mark during the early trading hours today, indicating a strong bullish influence for the leader of altcoins in the crypto industry.

Ethereum Price Analysis
TradingView: ETH/USDT
The technical indicator, MACD, displays a constant green histogram, indicating a massive ongoing buying-over-selling pressure in the crypto industry. Moreover, the averages show a significant rise in the chart, highlighting a positive price action for the altcoin in the coming time.

Considering the current market sentiments, the ETH price is predicted to test its upper resistance level of $3,800 by the upcoming week. However, in case of a trend reversal, the price may test its support level of $3,200.

Impact Of This On Altcoins!
With the rising market volatility and the possibility of the Ethereum price achieving new high, top tokens on the ERC-20 chain have begun to display significant price action in their respective portfolios. The ETH price hitting a new high will impact the altcoin sector on a huge scale as many tokens are built and run on this chain.

Top tokens such as Chainlink (LINK), Uniswap (UNI), Decentraland (MANA), Shiba Inu (SHIB), and Lido Dao (LDO) have recorded significant price action over the past week and is expected to experience the same in the coming week.

Ethereum Price Analysis
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