Can Cardano reach $1 in February?

According to an article posted on 29th of January in Financial News site Finbold, there are some strong fundamentals for Cardano’s native token: $ADA that can potentially surge its price to $1.

Right now $ADA price is around $0.39 (at the time this post was published). Cardano which had a major decline -as most cryptocurrencies throughout 2022- started on bullish trend in January 2023. More specifically, from its low point of around $0.24, it is already +62%. A potential surge into the 1 dollar zone, would be much anticipated by most investors. After all, most of them have seen their net worth plummet in recent months. For the time being, a strong resistance is at $0.40.

But can Cardano really reach $1 in February? Of course, there is no one who can ever predict how the market will move. Nevertheless, there are some strong fundamentals that can give positive signals to the market. One of them is the much anticipated Djed algorithmic stablecoin which is expected to be launched in the coming days. Other fundamentals are related to the continuous development of the Cardano ecosystem. Indeed, Cardano has perhaps the most active community of developers in the whole crypto space. Some of those developments are: the first-ever smart contract written in Eopsin and an upgrade to introduce new built-in functions to the Plutus smart contracts. Moreover, an update that will enable Plutus to support Schnorr and ECDSA (Elliptic Curve Digital Signature Algorithm) signatures is coming on February 14th.