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Cardano (ADA) Sets a New ATH, Forming Pattern For Another One

Published 08/20/2021, 07:15 AM
Updated 08/20/2021, 07:30 AM
Cardano (ADA) Sets a New ATH, Forming Pattern For Another One
ADA/USD
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  • ADA set a new ATH of $2.55 and became the third-largest crypto by market cap.
  • The pattern shows that the crypto is ready to hit another new all-time high.

Today, Cardano (ADA) cryptocurrency surged by over 18% to set a new all-time high of $2.55. As a result, it became the third-largest cryptocurrency by market cap. At press time, ADA is trading at $2.50. It has a market cap of $80.7 billion, which is higher than Binance coin’s (BNB) $72.1 billion, according to CoinMarketCap.

ADA is maintaining its drive from Thursday’s run, where it came close to setting fresh price highs. The public blockchain platform has been on a tear in recent weeks. But it is up 150% from July 21 lows of $1.

In addition, Cardano’s (ADA) daily close above the $2.60 resistance. And according to a classic bullish technical analysis pattern signal, the crypto is ready to hit another new all-time high.

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