ADA Jumps 18% Weekly While Major Alts Sleep: Is $0.30 Cardano Price Next?

Although there was some intra-week volatility for BTC and other larger-cap altcoins, most are closing in on another rather sluggish trading period, with little to no movements on a weekly (and even monthly) scale. Cardano’s native token, though, has defied this trend.

It has risen by 18% over the past seven days and briefly pushed above the psychologically important $0.20 level for the first time in over two months – or, just after Cardano founder Charles Hoskinson said he was going to take a break from the project.

Where to Next?

Given that ADA slumped to a multi-year low of $0.14 in June and has recovered more than 40% since then while the rest of the market mostly sleeps, the logical question is where the asset is going next. Popular market commentator Alex Marell outlined the token’s latest breakout and said it’s currently showing one of its strongest structures in months. He believes the recovery could continue toward the next major resistance zones if buyers successfully defend the recent breakout.

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