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Cardano Price Bounce-Off $1 Headed to $1.50? Morningstar Strategist Says ADA Could Go Mainstream!

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Bitcoin is approaching the vital and crucial $40k level, indicating that the cryptocurrency market is booming. BTC presently has a 47.59 percent market share. With the spectacular bitcoin rally, numerous cryptocurrencies have begun to gain traction, with Ethereum up 8.18 percent in the last 24 hours. In the last 24 hours, the prices of the most popular cryptos have risen.

Also Read : Amazon Getting Ready for cryptocurrency Payments! BTC Price is Nearing the $40k Mark After a Rough Ride!

Apart from BTC and ETH, the greatest gainer appears to be DOGE, which has gained 13.21 percent in the last 24 hours, followed by ADA and XRP, which have gained 12.79 percent and 9.78 percent, respectively.

Cardano Price

Over the last week, the cryptocurrency market has seen a resurgence of positive sentiment. The ADA price has seen a number of positive developments on a daily basis. Cardano price is currently trading at $1.38, after starting the day on a bullish note. It is one of the top gainers with a gain of 13.75 percent in the previous 24 hours. 

Cardano Pric

As the coin approaches the $1.40 level, the following steps are likely to be $1.46, $1.54, and $1.62. At $1.30, it is also vital to construct firm support. 

According to the 2hr time frame, The Relative Strength Index is going upward, confirming the upward trend. The RSI is above 60 levels, indicating that the market was in over-purchasing. On the Awesome Oscillator, a green signal bar was also discovered.

“BIG THREE”

In a recent interview with the Insider, Amy Arnott, a cryptocurrency-focused portfolio strategist at Morningstar, discussed her thoughts on crypto regulation, ether, and Cardano. 

Cardano (ADA) is another potential cryptocurrency, according to Arnott, which might join bitcoin and ether to form a “big three” of popular cryptocurrencies.

Cardano is similar to ethereum in that it’s a protocol that has a lot of potential technical applications. There’s a lot of enthusiasm about cardano, and also various stablecoins.

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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.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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