Cardano's Price Might Reclaim $1.20 in Days, Here's Why

Cardano (ADA) appears set to reclaim the $1.20 mark in a matter of days. Data from CoinMarketCap shows a mild uptick in trading volume by 2.83% to $1.15 billion in the last 24 hours. Within the same time frame, ADA’s price fluctuated between a low of $1.07 and a high of $1.10, showing how well it maintains its price stability.

Read more on U.Today https://u.today/cardanos-price-might-reclaim-120-in-days-heres-whyAs of this writing, ADA is trading for $1.08, representing a 0.44% increase. This places the coin $0.12 away from reclaiming the $1.20 level. Analysts see this as achievable given the current market dynamics of soaring trading volume, Bitcoin’s performance and other ecosystem developments. the past month, the $1.20 level has proven a critical resistance for ADA to breach. However, investors appear ready to support its rally over the resistance as they increase In the past month, the $1.20 level has proven a critical resistance for ADA to breach. However, investors appear ready to support its rally over the resistance as they increase purchases of the coin.Analysts foresee ADA achieving that goal if the current market momentum becomes sustainable. Additionally, other market forces that have supported ADA’s upward movement are the recent gains of Bitcoin (BTC), the leading digital asset.In the past seven days, Bitcoin has maintained a steady rally to retest the $100,000 level. Cardano’s correlation to BTC implies that ADA could ride on the wave of Bitcoin’s surge to attain the elusive $1.20 mark.

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