Cardano (ADA) price has surged over 170% this November, emerging as a top performer in the cryptocurrency market. This remarkable rally reflects broader bullish trends across the crypto sector, reigniting investor confidence and interest.
Can Cardano Price Hit $1.5 This Weekend?
A crypto analyst highlighted Cardano’s potential for a retracement near the 0.786 Fibonacci support level. According to the analysis, this could pave the way for a false breakout before the cryptocurrency resumes its upward trajectory.
The analyst identified three key price targets for $ADA: $1.1563 as the first target (T1), $1.3658 as the second target (T2), and $1.5403 as the third target (T3). This analysis indicates optimism around Cardano’s price action, aligning with bullish market sentiments. 
Source: X
Will ADA Price Mirrors Early 2021 Pattern?
Cardano’s recent price movement has echoed patterns last seen in early 2021, signaling a possible 50% gain this week. Over the past three weeks, ADA has surged by 150%, reaching $1 for the first time since 2022. On November 23, the cryptocurrency spiked to $1.12, marking its highest price over two years.
The latest ADA price trades at approximately $0.90, reflecting a sharp correction alongside the broader cryptocurrency market.
The top altcoin faces critical resistance at $1, with bullish momentum hinting at a breakthrough. Analysts suggest surpassing this level could drive ADA toward $1.15, marking another significant hurdle for the cryptocurrency’s upward trajectory.
The Moving Average Convergence Divergence (MACD) reveals bullish momentum. The MACD line maintains a slight lead over the signal line. The Relative Strength Index (RSI) sitting at 70, indicating an overbought zone. 
Cardano Price Chart: TradingView
Cardano’s strong November rally showcases significant bullish momentum with the potential to break critical resistance levels. Analysts predict further gains if ADA sustains upward pressure, potentially surpassing $1.50. However, overbought indicators suggest caution, with possible retracements before continuing its upward trajectory.
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