Cardano Soars: Is $1.20 the Next Target?
Cardano explodes with a surge of 29% in just the last 7 days, reaching $0.747 at the time of writing. It feels like 2021 again. The 10th largest cryptocurrency is one of the best performers among blue-chip coins. In the past 24 hours alone, it added nearly 4%, driven by a wave of bullish momentum across the altcoin market.
In brief
- Cardano is up 29% in a week and is testing key resistance at $0.749.
- A breakout could send the price toward $0.90 or even $1.20, analysts say.
- Founder Charles Hoskinson predicts a “gigachad bull run” with trillions entering altcoins.
Key resistance test underway
The recent rally brought Cardano face-to-face with a crucial technical level: the 200-day simple moving average. This level now acts as immediate resistance at $0.749. The coin briefly broke past it with a spike to $0.777 on Friday, but sellers forced a retreat. If ADA can break and hold above this resistance, analysts suggest the next targets lie at $0.90 and even $1.20.
Analyst targets $1.20 for ADA
Crypto analyst Ali has a bullish prediction: “Cardano (ADA) is breaking through a key resistance level, opening the door for a rally to $0.90-$1.20.” A breakout would be the start of a broader recovery for Cardano, which has been stuck in consolidation for months.
Charles Hoskinson: “Gigachad bull run is coming”
Cardano founder Charles Hoskinson is fuelling the optimism. He had a bold forecast on X. On the day Bitcoin surged above $118,000, he wrote: “Remember I said the gigachad bull run is coming. We are going to see $250,000 Bitcoin and trillions enter the space for the alts.”
Altcoin momentum growing
Hoskinson credits upcoming U.S. crypto legislation, specifically the GENIUS and CLARITY Acts, as potential catalysts for this massive influx of capital. At the same time, the Cardano ecosystem continues to grow. Improvements in governance, an expanding developer base, and sustained development activity could all set the stage for ADA to shine in the next leg of the market cycle.
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I've been passionate about crypto for nearly a decade, ever since I was young and first became curious about investing. That early spark led me to years of research, writing, and exploring the future of decentralized tech.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.