Cardano is showing a bullish momentum with daily gains of over 17% and weekly gains set at 27%, preparing to head for 1.50$ where it could potentially set new support records. The next price target should be 2$, which should also become the highest price ADA ever reached. The last ATH is set at 1.48$ as recorded in February 2021, and as ADA is very close to getting back to its all-time high, currently trading at 1.45$, a new ATH is very much possible. Can ADA reach the price target of 2$ with the current bull run?
Cardano (ADA) Price Forecast: Can ADA Reach 2$ in the Following Week?
ADA is showing an extremely bullish pace of growth with 17% of gains for the day, and 27% in weekly gains. Moreover, ADA must be one of the top gaining coins for the year with over 5500% of returns recorded on the yearly chart. The monthly chart is showing 67% of gains with 18.2% recorded on the biweekly chart. ADA managed to maintain the price above the value of 1$ for the week, hopefully setting strong support at the price of 1$. There might be a strong reversal in trends once ADA gets to 1.50$, which could bring the crypto down to 1$ again. However, there is also a strong possibility that ADA will reach a new all-time high of 2$ with the current bullish momentum. Crypto Briefing portal hints that ADA entered a rally thanks to the news about the Coinbase Pro listing, which might be one of the driving factors in the latest bullish momentum. In case Cardano keeps up with the present bullish momentum, the price of 2$ could be easily reached, however, trend reversals will decide for how long will ADA trade above 2$.
Image credits: Cover photo taken from Takefreebitcoin.net
