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Cardano Price Analysis: ADA reaches $2.80, targets $3 mark next?

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TL;DR Breakdown

  • Cardano price analysis is bullish for today.
  • ADA/USD continued to rally overnight.
  • ADA currently trades around $2.80.

Cardano price analysis is bullish for today as the market started to rally again yesterday after some consolidation and saw another spike higher overnight. Therefore, we expect ADA/USD to continue moving higher this week and break the $3 mark next.

Cardano Price Analysis: ADA reaches $2.80, targets $3 mark next? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded in the green over the last 24 hours. The market leaders, BTC and ETH, are both up by 1.6 percent, while Cardano (ADA) is one of the best performers from the major altcoins, with a gain of almost 7 percent.

Cardano price movement in the last 24 hours: Cardano rallied another 15 percent

ADA/USD traded in a range of $2.53 – $2.85, indicating substantial volatility over the last 24 hours. Trading volume totals $8.1 billion, which is up by 55.7 percent from yesterday, while the total market cap trades around $90.4 billion, resulting in a market rank of 3rd place.

ADA/USD 4-hour chart: ADA targets the $3 mark next

On the 4-hour chart, the Cardano price is rapidly advancing higher, with the $3 mark as the next target.

Cardano Price Analysis: ADA reaches $2.80, targets $3 mark next?
ADA/USD 4-hour chart. Source: TradingView

Cardano price action has continued to advance over the past month after a new swing low was established above the $1 mark on the 20th of July. Since then, ADA/USD has gained more than 170 percent to the current high of $2.84.

Last week, we saw the Cardano price break past the previous all-time high of $2.47. After some consolidation, further upside followed, with bulls still not slowing down.

Overall, this price action development indicates that a lot more upside will follow this week. The next target to watch is located at the $3 mark and likely will be reached in the upcoming days.

Cardano Price Analysis: Conclusion 

Cardano price analysis is bullish for today as bulls continue setting new all-time highs after some consolidation yesterday. Therefore, we expect further advance for ADA/USD today, with the $3 mark as the next target.

While waiting for Cardano to move further, read our articles on Decentralized Exchanges, BTC Futures, and NFT Marketplace.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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