More On: cardano
Cardano NEWS: ADA Crypto Network Expands ADA adds over 450,000 wallets in Q1 2022 with New Fund and Research Initiative
- The bulls are gearing up for a surge to $1.00 with Cardano's pricing.
- At this point, the price of ADA appears to be heading around $0.90 in the US session.
- As a long-term relief rally appears to be begun, expect to see a large flood of investors.
Since yesterday, the price of Cardano (ADA) has turned around due to the market's emphasis on the ongoing peace talks and Ukraine's willingness to walk away from NATO membership. During the ASIA PAC and European session, the Relative Strength Index conducted a knee-jerk response against bears, resulting in a significant flood of purchasers. When further favorable factors are added to the current environment, expect ADA price action to touch $0.90 intraday and $1.00 by tomorrow or Friday.
Cardano's $1 price tag adds urgency to peace efforts
Prices of Cardano are expected to rise by roughly ten percent today, with gains of six percent in Asia Pacific and Europe, and an additional four percent from bulls into the US session. Pre-positioning investors for a 15% gain by Friday and printing $1.00 on the quotation board would be roughly $0.90 in terms of pricing value. Most of March's losses would be erased if this were to happen. March, with just a few weeks left, has the potential to be the most lucrative month in Cardano's history.
If this intraday price reaction is anything to go by, we may expect another spike in ADA's price as we head into today's US session. Expect a last push towards the closing bell of the US trading day, which may see the price rise to as high as $0.90. For the rest of Thursday and Friday, bulls may rest easy knowing that $1.00 is only 15% away from Cardano's opening price for trading on Friday.
If peace negotiations in Ukraine fail or the situation worsens, ADA's price might drop to its initial price of $0.80. Initially, this week's low of $0.78 will be retested, and then the February 24 low of $0.75 will be tested. This would imply a 7% drop throughout the trading day, which is still possible.
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