Cardano trades at $0.2055, copper proposal requires new all time high

Cardano (ADA) traded at $0.2055 today, as mild gains allowed the altcoin to stay above several key moving averages. The price rebounded from the lower edge of the Bollinger Band at $0.196, leading to an expansion in these mathematically-defined price envelopes and signaling potential volatility ahead. On the broader timeframe, market analyst Javon Marks suggested that Cardano’s weekly chart indicates room for a major rally, potentially echoing a 1,100% rise. Marks stated that this kind of price move could propel ADA to $2.90, if market conditions for altcoins mirror previous historical structures.

Source: CoinTurk News