The altcoin season is in full swing. The price of Cardano recently breached the coveted $0.80 mark before tipping back to $0.68 at press time.
Bitcoin, the supreme crypto, also fell back 6% after touching the ambitious $69K mark.
The make-or-break mayhem is compelling crypto analysts to make projections on whether Cardano will soon be able to breach the $1 mark.
Also Read: Cardano Inches Closer: Only 28% Away From Reaching the $1 Milestone
Cardano Eyeing $1: How Soon Can It Breach It?
With ADA touching the $0.80 mark last night, the speculation spree is running wild on X. Notable crypto analyst Ssebi has predicted the steady rise of Cardano, claiming that its next soft target could easily be $0.84. However, ADA would need additional support to climb its price ladder to reach new highs.
“ADA gets a perfect bounce from $0.75, turning previous resistance into support. Currently, $ADA is moving within this ascending channel; the next target is around $0.84.”
Ssebi further noted how ADA’s price is quite volatile. A possible make-or-break predicament can either skyrocket its price to $0.84 or tip it back to $0.60.
“A breakout of the channel could send $ADA in the $1 area, while a breakdown could send $ADA at $0.60.”
At press time, ADA has fallen back significantly after touching an ATH of $0.80.
Also Read: Forbes Predicts Cardano (ADA) Price As Bitcoin Reaches $67,000
Dan Gambardello, another notable crypto analyst, was quick to screenshot the ADA’s $0.80 touchdown on X.
Cardano Price Analysis For March
With the current price momentum and pace in mind, Cardano is currently facing fluctuations in its price levels. According to the analysis platform Changelly, Cardano is predicted to rise to $0.0792 in March 2024.
“Based on the price fluctuations of Cardano at the beginning of 2023, crypto experts expect an average ADA rate of $$0.792 in March 2024. Its minimum and maximum prices can be expected at $0.721 and $0.864, respectively.”
However, Cardano’s price largely depends on market volatility and collective momentum.