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The post <a href="https://coinpedia.org/price-analysis/cardano-network-grows-strong-projects-ada-price-prediction-beyond-1/">Cardano Network Grows Strong, Projects ADA Price Prediction Beyond $1</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With an early bullish reversal, the <a href="https://markets.coinpedia.org/cardano/" target="_blank" rel="noreferrer noopener">ADA price</a> is teasing a trend reversal rally in the daily chart. Further, Cardano is ready to boost with a breakout trend and recover the lost levels with the intent to challenge the previous peak of $0.66. 
Taking a wider market outlook, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> sustains the recovery momentum and is ready to enter the “Post-Halving Rally” next week. With gradually improving sentiments and rising anticipations for a bull run next week, Cardano eyes the $1 mark this run.&nbsp; 
With the increasing bullish expectations, will Cardano reach the $10 mark? Find out NOW in our <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/">Cardano price prediction</a>.&nbsp; 
<h2 class="wp-block-heading" id="h-buyers-crackdown-50d-ema-fuels-channel-breakdown">Buyers Crackdown 50D EMA Fuels Channel Breakdown</h2> 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="464" src="https://image.coinpedia.org/wp-content/uploads/2024/02/08121616/image-62-1024x464.png" alt="" class="wp-image-268166" srcset="https://image.coinpedia.org/wp-content/uploads/2024/02/08121616/image-62-1024x464.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/02/08121616/image-62-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/02/08121616/image-62-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/02/08121616/image-62-1536x696.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/02/08121616/image-62-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/02/08121616/image-62.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source – <a href="https://www.tradingview.com/x/UmXQPleB/">Tradingview</a> 
As mentioned in our previous article, the ADA price reverts from the overhead resistance in a falling channel pattern. However, as the markets take on the recovery road, Cardano prices take a quick reversal with lower price rejection.&nbsp; 
With such a sharp trend reversal, the 2.19% intraday growth in ADA price leads to a bullish engulfing candle. Currently, Cardano trades at $0.514, with a 66% rise in the intraday trading volume.&nbsp; 
Further, the rising trend results in the bullish breakout of the falling channel pattern, leading to a potential release of the trapped momentum.&nbsp; 
Also Read: <a href="https://coinpedia.org/price-analysis/top-reasons-why-bitcoin-and-major-altcoins-are-surging-today/">Top Reasons Why Bitcoin and Major Altcoins Are Surging Today</a> 
Technical indicators: 
RSI indicator: The daily RSI line surfaces above the halfway line and reflects a surge in the underlying demand. Hence, the rising momentum bolsters the possibility of an uptrend.&nbsp; 
<h2 class="wp-block-heading" id="h-will-ada-price-reach-1">Will ADA Price Reach $1?</h2> 
The Cardano network is finding a surge in network health with the rise in active users and transaction count. Further, as the ADA price is ready to cross above the 38.20% Fibonacci level and the reclamation of the $0.50 mark, the buyers are ready for a breakout run. In such a case, the Cardano price trend can reach the $0.66 mark for a breakout attempt.&nbsp; 
On the downside, a drop below the support trendline can test $0.40.
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Cardano Network Grows Strong, Projects ADA Price Prediction Beyond $1

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