Cardano rises 20% to the highest race in a month, what now?

It is a good day to be a cryptobelegger. The market goes through the roof. Bitcoin (BTC) pulls the cart with a hefty breakthrough towards $ 118,000. It is a broad improvement in its old all-time high of around $ 112,000. Altcoins sail along with the success of BTC, including Cardano (ADA) that records a profit of double digits.

Cardano makes comeback

In the last 24 hours, Cardano has been on an impressive increase of 20 percent. This brings the token to a value of 0.75 dollars, the highest point since 11 June.

The price can be different when you read this. It all goes very fast at the moment. It is clear, the market is bursting at its seams.

Last week Cardano was still in a valley and the race floated around 0.55 dollars. But thanks to the increases in recent days, the digital currency managed to achieve a total profit of 30 percent. With that, Ada has been making up for a large part of its losses since May, when the rate was still around $ 0.85.

The enthusiasm in the market has to do with Bitcoin. On Wednesday evening the coin already broke his previous record (from May), but last night it broke through convincingly. Many Altcoins rise faster, but it is too early to speak of an altseason. Bitcoin has already had to surrender a lot of market share.

Ada Koers must break this level

After these good performance, what else can we expect? According to analyst CW, the 0.87 dollar course is an important level. According to him, there is a strong resistance here. The analyst says that the “real bullmarkt” will only start when Ada breaks this resistance.

A breakthrough would be a signal of strong buyer pressure and could lead to a substantial price rise, possibly even towards new all-time highs. In the case of Cardano, that peak value is $ 3.09. The token still has a very long way to go, but that is the case with most altcoins.