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Cardano Price Gains 19.7% to $2.53 – Where to Buy ADA


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The cryptocurrency market has made a strong rebound in the past 24 hours. Bitcoin and Ethereum have made incredible gains, with BTC now trading at above $47K while Ethereum is at $3200. Altcoins are also mimicking this uptrend, and Cardano is among the best gainers in the past 24 hours.

Cardano is trading at $2.53 at the time of writing after a 19.7% gain in 24 hours.

Cardano Price Analysis

Cardano Price Analysis Aug 20
Source: Tradingview

Cardano has made incredible gains since the market started its bullish sentiment in late July. Currently, ADA is trading at an all-time high of $2.53, which has led to its market capitalization shooting to over $81 billion, and it currently ranks third after ether.

Market support is currently very strong, in which case we will see this uptrend continuing in the short term. ADA is currently aiming to break past the next resistance level of $2.60, creating a new all-time high. After this level, the next resistance for ADA lies at $2.80, after which buyers could strengthen the rally beyond $3.

On the other hand, the ADA rally could halt if there is no buyer or market support. In this case, ADA will slump to $2.40. Dropping to this level could strengthen the bull rally, and in this case, we could see ADA bulls picking up again.

The recent rise in ADA prices is not just attributed to market support. The coin is also gaining an uptrend because of the news surrounding the Alonzo hardfork implementation. This upgrade is expected to bring smart contracts into the Cardano network, which aims to boost adoption and bring efficiency to this network.

The founder of Cardano, Charles Hoskinson, has revealed that the price of ADA will reach $150 by the end of the year. Hoskinson also added that BTC would lose its value eventually and would soon be flipped by other competitive networks such as Ethereum and Cardano.

Where to Buy ADA

If you want to buy ADA during the current uptrend, you can easily create a cryptocurrency exchange account on eToro. eToro is one of the largest exchange platforms, and it supports a wide range of cryptocurrencies and trading pairs. eToro charges low trading fees, and it offers user-friendly features such as copy trading, which allow new traders to learn from the strategies of expert traders.

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

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