- ADA surges 223% in 30 days, reaching $1.15 as Cardano ecosystem upgrades boost investor confidence.
- Cardano partnerships and upgrades, including RLUSD launch, fuel ADA’s momentum toward a $2 target.
- ADA’s RSI at 81.11 shows overbought conditions; price may stabilize before breaking $1.50 resistance.
Cardano’s native token, ADA, appears ready for big gains due to major developments in its ecosystem and partnerships with prominent crypto protocols. The altcoin has surged as Bitcoin (BTC) approaches $100,000.
ADA’s price increased 9.35% in the past 24 hours, with weekly gains at 11.11% and a 30-day surge of 223.41%. ADA currently trades at $1.15, down 63.33% from its all-time high of $3.10 during the last bull run. Based on in-depth Cardano Price Prediction analysis, ADA can hit $1.36 by the end of the year.
The TradingView daily chart below shows ADA breaking through multiple resistance zones before meeting resistance at $1.25. If ADA breaks through this level, it could move towards $1.50. The Relative Strength Indicator (RSI) is 81.11, showing buyers control ADA’s price action.
The gradient of the RSI suggests that the price surge for ADA will remain on the rise in the near future and investors can expect the cryptocurrency to make a move towards $2 soon. Meanwhile, the MACD histogram is also bullish with the signal line continuing below the MACD line, suggesting that buyers continue to dominate.
Cardano Ecosystem Developments
Cardano is set to undergo significant ecosystem developments ranging from the implementation of the Cardano Constitutions to the Chang hardfork. The blockchain project’s focus is on increased decentralization and token holders getting more power in the governance of the protocol.
Further, Cardano is also partnering up with American fintech firm Ripple for the debut of their much-awaited stablecoin project called RLUSD. Also, with Cardano’s Midnight upgrade, real-world asset (RWA) tokenization will also be brought to the blockchain’s users.
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Source: https://coinedition.com/ada-price-jumps-223-in-30-days-cardanos-2-target-gains-traction/