Cardano (CCC:ADA-USD) is running higher on Friday and recent price predictions claim the crypto could push about the $3 mark soon.
In the history of ADA, the crypto has never reached the $3 price point. It’s come incredibly close with tokens trading at $2.96 at the start of the week, but hasn’t quite been able to break through the $3 ceiling. However, that may be about to change.
A recent analysis of the stock by CoinTelegraph‘s Yashu Gola paints a positive picture for holders of ADA. His price predictions claim that ADA could reach $3.05 per token as investors pile into it in the near future.
According to Gola, the crypto is showing classic bull flag movements. This occurs when a stock has several dips after gains but doesn’t fall back to its price prior to the start of the run. The graphs support this, meaning breaking that $3 mark is likely going to happen soon.
While ADA might not reach the $3 price point today, crypto traders will want to keep an eye on it over the weekend. Based on the recent movement of the stock, it’s likely we’ll see it reach that price on Saturday or Sunday. The biggest concern for traders will be if it can stay above it or if it will dip back down below $3.
ADA is already seeing some major movement today. Over the last 24-hours, the price of the crypto has climbed roughly 10.3% as of Friday morning.
Investors looking for more crypto news will want to keep reading!
InvestorPlace keeps up with the crypto market and that includes more recent coverage of Cardano outside or price predictions. A few examples include bull stances from some of our writers, as well as what to know about the upcoming Alonzo hard fork. You can find all of this at the links below!
More Recent ADA Crypto Coverage
- Buy Cardano, But Not for Its Idealism
- Dear Cardano Crypto Fans, Here’s Why You Should Be Cheering Today
- ADA Crypto: 15 Things to Know Ahead of the Cardano Alonzo Hard Fork
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.