Cardano (ADA), has enjoyed a hot streak lately. The market has seen a steady increase in the price of ADA. After falling to almost $ 1, the digital asset has recovered to regain its position in the market charts. The price of this digital asset has not seen any significant drops in the past two months. It is now trading at $ 2, as if it had never faced any difficulties.
Cardano (ADA) records 13% price gains in 24 hours, is $ 2.20 possible again?| Cardano (ADA) records 13% price gains in 24 hours, is $ 2.20 possible again?
This new point was broken for the first-time in months. The asset’s next target is the May all-time high, which it reached in May before falling back. The all-time high price of $ 2.20 is within reach. The market’s current momentum will ensure that the price reaches this goal in no time.
Good News: Shipment Barreling Prices
The Cardano community was recently swept by a wave of good news. The final phase of the project’s testing phase will see the launch of the Alonzo purple public test network. Smart contract capacity will be achieved at the end of this phase. Team development AnnouncementLaunch of the public Twitter testnet. Explaining that the tests can be carried out by testers from previous Alonzo White, and Blue test networks. Access to the network will be available to developers who are interested.
Related reading: Cardano (ADA), Receives Approval for List in Japan| Cardano (ADA) Receives Approval to List in Japan
Cardano (ADA), was also approved recently to be listed on a Japanese stock exchange. One of the most difficult approvals for a cryptocurrency project is likely to be granted. This has enabled the digital asset to become one the most valuable cryptocurrencies. The token was made available to over 100 million people, who were previously unable to access it.
The community is still confident in the asset, even as the network approaches full smart contracts integration. Investor communities feel a lot of detention. This leads to less selling pressure, and more buying pressure. This is how the current rise in asset prices can been attributed.
Cardano (ADA), continues to outperform
It has been fascinating to observe the price of ADA in the last 24 hours. The price of ADA appears to be rising in tandem with the rest the market during the bullish rally.
Source:| Source: TradingView.com - ADAUSD
The asset’s price has changed by 14.77% over the past 24 hours, according to a 24-hour price analysis. This has led to huge gains in the price. Finally, pushing the asset’s price above the resistance of $ 2.
Cardano (ADA), which is not trading above $ 2, has indicators that indicate that $ 2 could be the asset’s new landing point on its way to a new all time high. The asset’s current price record will be broken if it sees an increase of $ 0.20. And as the price continues to rise, it will likely break a new record by the weekend’s end.
Featured image taken from BeInCrypto. Chart from TradingView.com