Cardano is showing signs of a potential 120% surge towards a $2+ price target as analysts predict a bullish run.
The cryptocurrency is currently holding a strong support zone around $0.55-$0.56, with analysts suggesting a breakout could push the price towards $0.68-$0.70 in the short term.
Cardano's futures market is experiencing a surge in open interest, exceeding $723 million, indicating growing investor confidence and optimism in the market.
The Relative Strength Index (RSI) for Cardano has dipped to oversold levels at 23, hinting at a potential uptrend, while there are speculations of a 90% ETF approval rate for Cardano.