Cardano Hits 2-Year High Of $0.97, Analyst Bullish On $1 Target For The Weekend

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Cardano Hits 2-Year High Of $0.97, Analyst Bullish On $1 Target For The Weekend - NewsBTC

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Related Reading: Crypto Community’s Revenge: Solana Memecoin Rug-Pulled By Gen Z Trader Hits $80 Million Market Cap As the price soared past $0.90, Martinez pointed out that the $0.80 resistance, where 48,000 addresses had bought 1.2 billion ADA, was a "key area of support to watch for the bullish thesis to hold.” Analyst Sebastian highlighted that, after the $0.80 resistance, "there isn’t much resistance until $1.2.” As such, ADA could potentially see "an explosion from here” and target the long-awaited $1 mark over the weekend.

Cardano peaked above the $3.10 mark three years ago but lost its bullish momentum as the crypto market struggled, hitting its lowest price of $0.22 in June 2023.

Related Reading: Ethereum Attempts Key Breakout: Analysts Set Next Target As ETH Reclaims $3,200 Cardano Makes New Year-High Above $0.90 On Friday, Cardano broke past the $0.81 resistance and skyrocketed toward the $0.90 mark, making a new year-high of $0.97.