Cardano Price Surges to $1 After 2.5 Years: Will It Reach $1.5 This Week?

Cardano (ADA) has been making waves in the crypto world, breaking through its previous barriers and hitting the $1 mark for the first time since April 2022. After struggling to gain momentum in recent years and slipping out of the top 10 projects by market cap earlier this year, ADA has seen a significant surge in popularity over the past few weeks.

While ADA’s price is down 1% in the daily charts, likely due to Bitcoin’s latest correction, it has seen impressive gains of 38.2% in the weekly charts, 82.4% in the 14-day charts, 216.2% in the monthly charts, and 168.9% since November 2023. According to Cryptocurrency analysis firm Santiment, Cardano’s market cap has tripled in just 17 days, making it the 9th largest crypto by market cap.

Predictions for ADA are looking bullish, with platforms like CoinCodex and Changelly forecasting potential price increases in the coming weeks. While there may be some corrections along the way, analysts anticipate that ADA could reach $1.94 by the end of December 2024, representing an 84.76% rally from current levels.

Despite the optimistic outlook, it’s important to note that ADA is still down by 66% from its all-time high of $3.09. Keep an eye on Cardano as it continues to make strides in the crypto market and potentially reach new yearly highs in the near future.