Cardano (ADA) Price Breaks $1 Barrier, Targets $1.20 and $1.50

Cardano (ADA), one of the leading cryptocurrencies, has broken through the psychological barrier of $1, reaching $1.13 in the past 24 hours.

Cardano (ADA) price soared to a new high on Monday, reaching $1.13 after breaking through the psychological barrier of $1 for the first time ever. This rally comes after a prolonged period of consolidation, where ADA price was largely stuck in a narrow trading range between $0.35 and $0.45.

However, with renewed optimism in the cryptocurrency market, ADA price showed strong potential for higher targets.

Cardano Price 1$: Consolidation Breakout

After months of trading in a narrow range, ADA finally broke out of its consolidation cycle. This recent surge catapulted the cryptocurrency to $1.13, marking a significant milestone in its price journey. The breakout occurred after ADA spent an extended period consolidating between $0.35 and $0.45, leaving investors eagerly waiting for a breakout.

Cardano spent months trading in a narrow range, frustrating investors. But recent surge brings ADA to $1.13, breaking consolidation. / ADA/USD 4-hours chart - TradingView

What’s Driving Cardano Price Up?

Optimism in the crypto market is palpable, especially in the US, where pro-crypto sentiments from the Trump administration are driving positive momentum. This, coupled with a broader enthusiasm for digital assets globally, is benefiting tokens like ADA, which are riding this bullish wave.

Cardano Price Prediction: How High will ADA Price Reach?

Following this breakout, Cardano’s next price targets are $1.20 and $1.50, levels that analysts believe are within reach given the current market momentum. However, potential retracement zones include $0.92 and $0.81, offering strong support for buyers looking to enter at lower levels.

Cardano’s next price targets are $1.20 and $1.50, while potential retracement zones are at $0.92 and $0.81. / ADA/USD 4-hours chart - TradingView

As the current market dynamics continue to favor cryptocurrencies, ADA seems poised for further growth. If the $1.20 mark is reached, the momentum could accelerate toward $1.50, solidifying Cardano’s position as a top-performing asset.