Cardano (ADA) price approaches $0.1 in a 19% surge

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Sep 26, 2020
  • Cardano's price saw a massive surge that took it to its YTD high by late July.
  • Unfortunately, since mid-August, a strong correction took the coin back down towards a support at $0.08.
  • ADA saw another surge that took it near $0.1, but it seems that a correction has already started.

Cardano (ADA) price has seen a strong surge over the past several days, as the new rally pushed the crypto market up. While the majority of the top coins only saw a minor increase, ADA actually managed to surge by almost 20% in the last 24 hours, before a correction had started.

Cardano in 2020

Early 2020 has brought a strong price surge for many different cryptocurrencies, and Cardano’s performance during these first several months was quite noticeable. However, it remains in the shade of the growth that came later on.

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Initially, the coin started the year with a low price of $0.033, only to start surging immediately, starting on January 1st. By the time the bull run reached its peak around February 14th, ADA sat at $0.06, which was quite impressive at the time.

In mid-March, however, the price fell below the January lows, sinking to $0.022. But, the recovery started rather quickly, and it eventually turned into a price surge that reached its peak in late July.

Over the next four months, between mid-March and late July, ADA simply kept growing further and further up. It did struggle with resistances here and there, but only a few stopped it for a somewhat longer period. That includes the one at $0.08, the one at $0.12, and lastly, the one at $0.145.

ADA did manage to break it briefly and hit its peak at $0.15 at one time, although it quickly dropped to $0.145. At this point, many have rushed to buy (Cardano) ADA, deciding that the surge has made it an excellent investment.

Unfortunately, ADA was kept back by this resistance until mid-August, which is when its drop started. The correction that followed in late summer pushes the coin all the way down to $0.8, which was the bottom that ADA hit only a few days ago.

Then, on September 24th, a strong new surge pushed the coin further up, back towards $0.1. Unfortunately, ADA failed to hit this level before a new correction took place, and at the time of writing, the coin is heading back down.

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