Cardano’s price has caught the attention of investors today, rising by more than 3% following recent volatile trading. The surge in ADA comes as the broader cryptocurrency market has seen a recovery following recent volatile trading. Amid this, a top market expert recently stated that ADA could be poised to reach $1.45 if the cryptocurrency is able to hold key support.
Cardano price surges amid overall market recovery
The cryptocurrency market has been experiencing volatile trading over the past few days, which has affected investor sentiment. Top altcoins such as Solana, XRP, ADA, and others have also been hit by the recent market volatility. Moreover, this has also raised concerns about the future of the altcoin season.
However, the recent recovery in the market suggests that the bull run is not over yet. Cardano’s price has also seen a strong rise today, indicating that the market is confident in the asset. In addition, analysts are also optimistic about the long-term trend of the coin.
Meanwhile, optimism about cryptocurrencies issued by U.S. companies has increased recently following Donald Trump’s election victory. In addition, Cardano founder Charles Hoskinson’s support for Trump has also gained significant attention from the market. Additionally, the Republican victory also fueled speculation that a Cardano ETF could be approved in the United States.
For context, ETF Store President Nate Geraci previously predicted that a large number of altcoin ETF applications would appear in the United States after Trump's victory. In an X post, he said that Solana, XRP, and HBAR have a higher chance of witnessing ETF applications. In addition, he also pointed out that "at least one issuer" will also apply for ADA or AVAX ETFs. This reflects the expectations of cryptocurrency regulation by the Trump administration.
ADA about to rise to $1.45?
ADA prices rose 3.01% to $0.8949 today, having hit a 24-hour high of $0.9113 earlier. Its daily trading volume also surged 17% to $844.26 million. In addition, CoinGlass data showed that ADA futures open interest rose 1% against the backdrop of the surge, indicating that investor confidence in the asset is recovering.
The recent recovery has sparked speculations about a possible rise in Cardano’s price in the future. Additionally, top market expert Rose Premium Signals recently predicted that ADA’s price will rise to $1.45 if it gains critical support in the future.
In a recent X post, the analyst stated that if ADA sustains above $0.7620, the price could target $1. Moreover, once it breaks through the $1 mark, the cryptocurrency will rally to $1.45 in the coming days. “A confirmed breakout above $1.00 suggests bullish momentum,” the expert stated.
Meanwhile, recent ADA price analysis also explores the possibility of the cryptocurrency reaching $6 in the future. This suggests that there is positive momentum in the market, which could push prices further higher in the near future.
Meanwhile, another top market expert, @Av_Sebastian, recently suggested that ADA will form a “bullish flag.” With this in mind, the cryptocurrency could reach its target of $1.45 in the coming days, especially if investors regain confidence in the digital asset space.