Cardano Surges 55% Amidst Bearish Market, Eyes $2 by March

Cardano, a relatively new cryptocurrency, has been making headlines recently, particularly for its record-breaking growth. On Saturday, the coin reached a price of $0.80, marking a 55% increase from its lowest point this month. This impressive performance comes despite the bearish market conditions affecting many other altcoins.

Cardano's success can be attributed, in part, to its strategic partnership with Globant, a public trading organization with a market cap of over $10 billion. The partnership involves Globant utilizing Cardano's blockchain platform to develop multiple decentralized applications for its customers. This collaboration is expected to pave the way for further integration of blockchain technology in the crypto world.

Analyzing the weekly chart figures, Cardano's prices appear stable, considering its relatively new status. Market experts predict that the coin could reach its peak in March, mirroring its strong performance during the same month last year. The 50-week moving average suggests that Cardano's Elite wave pattern is nearing its second phase, which could drive the coin's price to the 61.8% retreatment point at around $2 within the next three months.