Cardano is back in the spotlight, and some traders believe a major move could be on the way. In a new video from Cheeky Crypto, the channel’s host breaks down why ADA price might be gearing up for a 216% rally, and possibly a return to its previous all-time highs.
With trading volume spiking and market sentiment turning bullish, the conversation around Cardano is heating up again.
Right now, the crypto market as a whole is looking strong. Bitcoin price is trading above $119,000, and the global market cap is approaching $4 trillion.
According to Cheeky Crypto, this could be the early phase of a new bull cycle. ADA price has already gained over 17% in the past week and is up more than 5% in the last 24 hours. It’s hovering around $0.88, and some traders are eyeing the $1 mark as the next big test.
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ADA Trading Volume Is Picking Up Steam
One of the most bullish signals right now is trading volume, especially on Binance, where ADA saw $1.3 billion in volume in just 24 hours. That kind of activity often shows strong interest and can lead to price movement. While nothing is guaranteed in crypto, volume like this has historically acted as a warning shot before bigger moves.
The host pointed out that Cardano market structure is looking better now than it did the last time it hit $3, back in 2021. The tech has improved, the network is more developed, and overall infrastructure is stronger. If ADA price could hit $3 before, there’s no reason it can’t do it again, especially with broader altcoin momentum building.
What’s Going On With Charles Hoskinson?
The video also touched on recent controversy surrounding Charles Hoskinson and allegations of a $600 million ADA misappropriation.
Hoskinson denied the claims and announced that a third-party audit is coming by mid-August. He also hinted at possible legal action against those spreading the accusations.
Despite the drama, it doesn’t seem to be affecting ADA’s price or investor confidence much. In fact, the focus remains on price targets and market performance, not headlines.
Could Cardano Price Really Reach $2 or More?
Cheeky Crypto laid out a few technical levels to watch. The next immediate resistance sits around $1.14, which lines up with a Fibonacci level. The Relative Strength Index (RSI) is getting high, meaning price might need to cool down, but momentum still favors the upside.
Long term, the idea of ADA price reaching $2 or even making a run back toward $3 isn’t off the table. If it does hit that $3 mark again, that would be a 216% gain from today’s price, and with volume and sentiment both climbing, traders are watching closely.
Whether or not ADA explodes in the coming weeks, it’s clear that interest in Cardano is picking up fast. The next few moves could be key.
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The post Can Cardano (ADA) Price Really Hit $3 Again? Traders Eye 216% Rally appeared first on CaptainAltcoin.
