Cardano (ADA) price up 117%, targets to hit $1.15 this November?

As Cardano's price hits new annual highs, crypto investors are eagerly anticipating this altcoin to reclaim the $1 mark this year. As reported, from struggling near a critical support zone to rallying above 100%, ADA's price has seen a meteoric rise over the past 14 days.

XRP price hit the $1 mark over the weekend, will ADA price show similar price action and hit the long-term $1 mark this week? Scroll down, in this article, we will explore short-term options for the Cardano (ADA) token.

Cardano Price Hits 52-Week High!

In a strong bullish recovery in the crypto space, the value of ADA added 5.32% to the portfolio in 24 hours with a trade volume of $1.844 billion. Moreover, this altcoin recorded a weekly gain of 32.13% and made 2x the investor's portfolio in the last 30 days.

The EMA has encountered a 50/200-day golden cross on the 1D time frame. This indicates a high probability of a brutal rally-like situation in the near future.

Additionally, the Relative Strength Index (RSI) continues to hover above the daily bought range, while the average trend line remains the same. This suggests that the altcoin may continue to gain value this week.

Does the ADA cost $1?

If the bearish sentiment continues, the price of Cardano will break the resistance level of $0.7750 and reach the high resistance level of $0.8875. Holding the price above this level could pave the way for a move towards the $1 price target in the near future.

On the contrary, if the bears regain momentum, this altcoin may retest the support level of $0.6850. Moreover, if the bears surpass the bulls, this could lead to a drop to the $0.60 low support level this month.

Curious when this altcoin will reach $1. Read CoinPedia's ADA price forecast and subscribe to stay up-to-date on the latest happenings in the crypto world!

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