- The price is on a parabolic trajectory and may soon reach $3.
- Cardano is expected to reverse its northward consolidation.
The top ten cryptocurrency assets are now in severe fall, while others are battling to regain ground that has been lost. And the price of Cardano is one of those that has just recently begun to reverse. Due to increasing bullish momentum, the ADA price might soon see a parabolic climb over $2, and the likelihood of reaching $3 is high if the trend continues.
Growth in Trade Volume
The platform has also experienced a significant growth in trade volume, which has already surpassed $2 billion, representing a 25 percent increase over the previous year. According to a well-known analyst, the price is on a parabolic trajectory and may soon reach $3.
According to the analyst’s forecast, the asset is due for a significant bounce. Previously, when the asset hit its 200-day moving average, it experienced a strong turn. The price had a parabolic rise and hit its all-time high of moreover $3. However, a similar scenario is now occurring, which has the potential to result in a price surge.
Cardano is expected to reverse its northward consolidation in the near future, as traders seem to have flocked to the cryptocurrency. Furthermore, the ADA price increased during a period when the prices of other important cryptocurrencies stayed steady. A similar spike will probably occur since most assets are still trembling.
According to CoinMarketCap, the Cardano price today is $1.87 USD with a 24-hour trading volume of $2,049,884,135 USD. Cardano is up 4.04% in the last 24 hours.