InstaForex

September 24, 2021

After All, Cardano (ADA) Climbed Again!

 Investors finally breathed a sigh of relief seeing the positive movement of Cardano (ADA) following the correction of the crypto market price for several days.


The asset now recaptured third position with a 22% increase from its daily low, $ 1.9 on Sept. 21 and was trading at $ 2.3 at the time of writing this article.


For the record, the ADA saw an unfavorable price for most days in September after hitting an all -time high (ATH), $ 3.10 on September 2nd.


These assets invited investor frustration in the wake of the impact of the crypto market price collapse although Alonzo’s hard fork sentiment played a strong role in bringing the ADA to higher levels.



For the record, the crypto market is facing a correction to a 25% loss over the past three weeks and the ADA is not far behind.


ADA resistance is currently at around $ 2.44. Yet analysts argue that if the ADA passes $ 2.50, then there is hope for this asset to break out of the current bearish.


CEO of deVere Group management firm Nigel Green predicts Cardano could record incredible popularity, again after the adoption of Alonzo and the network has already garnered high trust from its investors.


The figure also predicts the ADA price will hit $ 4 by the end of the year, with a 91% jump in the fourth quarter.