The post Cardano Price Retains Key Support, ADA Bulls Push For $2 appeared on BitcoinEthereumNews.com.

Unlike the trend observed earlier in the week, the Cardano (ADA) price shows stability after breaking the $0.8 resistance point. While not leading the altcoin trend, ADA price has remained in the spotlight, jumping by 1.75% in 24 hours to $0.82. Cardano Price Heading Toward Key Resistance Point The ADA/USDT 1D price chart shows a series of lower lows and lower highs created as volatility shapes sentiment. The coin has traded within two extremes in 24 hours. This features the jump from a low of $0.7963 to a high of $0.8270. The breakout above the $0.82 mark is not yet considered a sustainable one, considering the historical record of pullbacks Cardano price has showcased in the past week. The ADA price will breach the resistance point at $0.83 with the current breakout. Over the past month, the digital currency has not attempted to breach this price level since it fell below on February 2. Breaking this resistance is pivotal for ADA to sustain its momentum. Per an earlier ADA price analysis, holding this $0.8 range is important to either touch the $3 point or fall much lower.  Sentiments remain optimal, setting the coin up a more bullish weekend ahead. What is Driving ADA Price Sentiment? Cardano is one of the few Ethereum-killers with impressive price action in recent times. Besides the shift toward community governance, the ecosystem is also hyped by the potential exchange-traded fund (ETF) that will track its price. As reported earlier by CoinGape, the ADA ETF buzz from Grayscale Investments contributed to the massive price boost recorded earlier. Unlike Solana and XRP, which have multiple ETF products, this Grayscale filing marks the first spot for Cardano ETF. However, Tuttle Capital filed for a 2X Leveraged ADA ETF product in January. The prospects of these new products have…

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Filed under: News - @ February 15, 2025 6:09 am