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Cardano breaks out vs. Bitcoin as ADA price discovery nears $2

The current “alt season” has produced serious returns but remains subdued when viewed in BTC terms.
Cardano (ADA), the native token of the smart contract platform of the same name, has joined the altcoins hitting new all-time highs this week.ADA/USD 1-day candle chart (Binance). Source: TradingviewCardano underscores “alt season 2.0” appetiteData from Cointelegraph Markets Pro and Tradingview showed ADA/USD hitting over $1.70 for the first time on May 7.In a move which an increasing number of large-cap altcoins are seeking to copy, Cardano gained impressively over the past few days, going from below $1.30 to the highs as sell-walls disappeared.Now, analysts are eyeing short-term targets of $5 as Bitcoin (BTC) continues to range, giving fuel to an already lively altcoin scene. “The thing I don’t like on ADA right now: there was a lot of volume and now there’s not,” popular trader Scott Melker said in a note of caution durin

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Źródło: https://cointelegraph.com/news/cardano-breaks-out-vs-bitcoin-as-ada-price-discovery-nears-2

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