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Cardano Hit $1 for the First Time Since January 2018! Will ADA Price Hit ATH?

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Cardano Price Successfully Hit $1

The cryptocurrency rally has fueled the minds of marketers to devote in the crypto space. Many altcoins are competing to hit an All-Time-High. The Ethereum of Japan, Cardano has gained more than 12% momentum in the past 24 hours and stands currently at the sixth position and poised to hit a new All-Time-High.

Top currencies like Bitcoin, Ethereum, Binance Coin and other currencies are rallying hard by gaining 5% to 16% over the past 24 hours. 

However, The cause for the price surge may be the announcement of well-known singer Gene Simmons. Gene recently tweeted that he had purchased ADA worth $3,00,000.

ADA Price Analysis 

Previously, Cardano achieved a milestone in 2018 by hitting the $1.33 mark to record an All-Time-High for the first time. Now the currency accomplished another breakthrough by mounting to more than $1 mark. 

One of the crypto analysts Rekt Capital says that ADA has successfully retested its macro breakout triangle for 3 weeks in a row and it has settled in higher lows each week. 

It is currently in a bullish rally as the price gained more than 12% momentum in the past 24 hours. ADA traded at the range between $0.66 and $0.91 before climbing to $1 and even the market capitalization glid to more than $32 billion.

At press time ADA’s price is $1.06 with a 24 hour trading volume of $7,11,45,39,922. Cardano has risen $14.99 in the past 24 hours with a market capitalization of $33,05,06,43,518. 

Cardano incited an uptrend as the bulls stepped back to the market. The relative strength index progressively indicates the strong bullish cycle by reaching 84 points.

ADA exceeded its resistance level at $0.91. The major support levels are to be formed at $0.75 and $0.66. Overall, the ADA bulls could retest the all-time-highs, with eyes set on the $1.13 threshold

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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