According to U.Today, Cardano has regained $ADA
The psychologically important $1 level during today’s trading session in the cryptocurrency market. Since the beginning of the month, the price of ADA has increased by 193%, tripling its value since early November. Cardano remains a popular cryptocurrency, ranking ninth among the largest coins by market cap, with a daily trading volume exceeding $2.5 billion, according to CoinMarketCap.
This recent price action has sparked curiosity among market participants about the future trajectory of ADA. Despite the inherent unpredictability of the crypto market, some indicators, such as the Fibonacci sequence, can provide insights into potential price trends. Analysts using the Fibonacci indicator suggest that if Cardano continues its upward momentum, the next important target could be $2.453, which is in line with the 1.618 Fibonacci level. If this level is surpassed, the next target would be the 2.618 Fibonacci level at $8.30. These levels are crucial as they often align with areas of increased buying or selling activity, which influences price trends.
While these predictions remain speculative, the recent recapture of the $1 mark indicates renewed interest and optimism for Cardano. If favorable conditions persist, further gains can be expected.