• Cardano price action makes a solid turnaround as bulls get ready for the rally to $1.00
  • ADA price looks set to hit $0.90 later in the US session.
  • Expect to see a substantial influx of investors as a longer-term relief rally looks to be underway.

Cardano (ADA) price has been on a turnaround since yesterday as markets focus on the continuing peace talks, and Ukraine is now willing to step away from membership with NATO. These elements sparked a massive inflow of buyers during the ASIA PAC and the European session as the Relative Strength Index performed a knee-jerk reaction against bears. Expect to see intraday ADA price action hit $0.90 and by tomorrow or Friday $1.00 depending on additional positive elements added to the current environment.

Cardano price puts $1 tag on peace talks

Cardano price action is set to pop around 10% today, with already 6% of gains booked during the ASIA PAC and the European session, the inflow of bulls during the US session will add another 4%. In terms of price value, that would mean somewhere around $0.90, prepositioning investors for another 15% of gains by Friday and printing $1.00 on the quote board. This would erase most of the losses incurred in March. With still a few weeks to go, March could become the most profitable month in the lifespan of Cardano.

ADA price reaction intraday looks to be only one-way south as we will see another acceleration going into the US session. Expect possibly into the US closing bell to see a final push that could hit $0.90 in the process. With this, bulls will gladly sit on their hands going into Thursday and Friday as $1.00 is only 15% off from where Cardano price action would open tomorrow.

Cardano/USD daily chart

Cardano/USD daily chart

Should the situation in Ukraine deteriorate yet again as peace talks stall or fail, expect ADA price action to fall back to the opening price at $0.80. In a two-tier stage, first, this week's low will be retested at $0.78, followed by the February 24 low at $0.75. That would mean an intraday loss of 7%, still on the cards.



 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

Coinbase envisages listing of more meme coins amid regulatory optimism

Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP