Cardano Price Rises 8% To $3: Time To Buy ADA As It Explodes?

• The Cardano price continued its inexorable rise to new All Time Highs as it approaches the $3 mark
• ADA continues to be the darling of the crypto market
• Investor uncertainty seems to have dissipated with ADA gaining over 150% since July 20 low

The Cardano price continues to reach new highs and although it retreated slightly over the past 24 hours, it managed to reach the $3 level. That is a price rise of over 160% since the July 20 low of $1.05 which is a hugely impressive achievement.

Investors who have gone in long from that price level of $1.05 have made an excellent profit with the smart contract cryptocurrency demolishing recent barriers and setting new ATH’s on an almost daily basis over the last weeks. The Cardano price is up by 30% just from the 17 August and looks to continue rising as the crypto market heats up.
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Short Term Cardano Price Prediction: Pausing For A Slight Breather Before Continuing The Inexorable Move Upward

Although there will be inevitable pullbacks, the Cardano price still seems rather bullish even on a short-term basis. Institutional investors appear to be piling in and bullish sentiment is through the roof. August has been an incredible month for Cardano where the price has risen an astonishing 120% from $1.20 to $3.00 before falling back slightly to $2.96 over the past 24 hours.

A bullish thesis would see ADA continue rising through the $3 barrier and tag the $3.30 price level which would represent an 11% increase from the current price. This movement would have to be supported by considerable buying interest to be sustained.

If a bearish thesis came into play, then the Cardano price would probably continue descending by around 8% where it would find support at the $2.80 level. If further profit taking would occur, then ADA might even sink back to the $2.5-$2.60 mark but overall crypto market sentiment would have to turn extremely negative for this to occur.

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Long Term Price Prediction For ADA: $5 Target By End Of The Year

As crypto market sentiment continues to improve at a rapid pace, the Cardano train seems to have left the station a long time ago. Further increases in price are expected according to analysts who remain extremely bullish on the ‘Ethereum Killer’.

Some market analysts are predicting a $5 price tag by the end of the year. In the current scenario, this is an entirely plausible prediction especially with the almost 200% rise in just over a month. Cardano is certainly going places.

Where to Buy Cardano

If you want to purchase Cardano, you can do so on the following exchanges:

• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.

Binance
The other platform where you can buy Cardano is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

Looking to buy or trade Cardano now? Invest at eToro!

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