Cardano Founder Says ADA Has Its Days as It Becomes Only Top Asset in Green With Rally to $1
- topcryptonews
- 2 days ago
- 2 min read
The bullish sentiments around Cardano have spiked in the past day as ADA defies bearish trends to briefly reclaim the $1 price.
While major assets like Bitcoin, Ethereum, and XRP retreated, Cardano had other plans yesterday. The 10th-largest cryptocurrency by market cap targeted higher prices amid the market chaos, rallying briefly to an intraday high of $1.02 before a slight correction.
ADA: The Only Top 50 Asset in the Green
The contrarian play placed Cardano at the top in the pecking order among the top 50 cryptocurrencies by 24-hour performance. Data shows that ADA is the only top 50 asset in the green in the past day, following its over 5% price growth.
Notably, Hoskinson has been a target of criticism when Cardano’s price underperforms, despite repeatedly emphasizing that he has no contribution to it. Nonetheless, he took pride in yesterday’s rally, expressing excitement over Cardano’s bullish price action.
What’s the Next Target for Cardano?
Meanwhile, analyst Javon Marks suggested that Cardano has further upsides, insisting that the recent pump has not even reached the minimum target. He highlighted that ADA has increased by over 82% from June’s lows of $0.51, following through on a recurring key trend dating back to 2023.
Notably, this involves a price rally after breaking out from a descending channel. The analyst predicted that the minimum target for the recent breakout is $1.20. Meanwhile, his attached chart shows that Cardano could reach $2.91, a 206% rally from the current market price.
This aligns with the price targets of other analysts like Crypto Deezy. He pointed to a golden cross in the daily timeframe, projecting a rally to $3, with past occurrences as context. Dan Gambardello also shares the same price target.
