Cardano (ADA) surges as Bitcoin (BTC) approaches $100,000, with ADA price nearing $1

From Investing.com

November 22, 2024 11:30 AM:

Cardano (ADA) is on the verge of hitting $1, with prices reaching $0.919 in today’s trading session. As Bitcoin (BTC) nears $100,000, capital is flowing to altcoins like ADA, driving market cap growth. ADA has surged 15% in the last 24 hours, hitting its highest price since May 2022 at $0.91.

ADA’s price has risen 44% this week, reaching a market valuation of $30.8 billion. If today ends positively, ADA will have gained for five consecutive days, with $1 in sight. Santiment suggests ADA’s growth is tied to Bitcoin’s support at $95,000, predicting further gains in November.

Cardano’s recent surge has it nearing the $1 mark, benefiting from Bitcoin’s rally. ADA’s bullish trend, breaking key levels and moving averages, has bulls eyeing $1, $1.25, and potentially $2. However, a drop below $0.8 could attract profit-taking, pushing ADA down to $0.58 in the short term.

Read more at Investing.com: Bitcoin Could Make or Break It By U.Today