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The Cardano price prediction shows that ADA is likely to break to the upside, and it may be fundamentally ready to break touch the $0.45 resistance.
Cardano Prediction Statistics Data:
- Cardano price now – $0.402
- Cardano market cap – $13.8 billion
- Cardano circulating supply – 34.3 billion
- Cardano total supply – 35 billion
- Cardano Coinmarketcap ranking – #8
ADA/USD Market
Key Levels:
Resistance levels: $0.500, $0.520, $0.540
Support levels: $0.320, $0.300, $0.280
At the time of writing, ADA/USD is hovering above the 9-day and 21-day moving averages. Meanwhile, the cryptocurrency might kick-start another bullish run back above $0.419 if the market price crosses the upper boundary of the channel. More so, the break above this barrier is the first signal needed for a bullish to press higher.
Cardano Price Prediction: Cardano (ADA) May Attract More Buyers
Looking at the daily chart, the Cardano price aims to cross above the channel. If the buyers reclaim the daily high of $0.419, the first resistance level may be located at $0.430 as this could also be followed by $0.450. However, additional resistance levels may also be found at $0.500, $0.520, and $0.540 respectively. On the other side, if the Cardano price slide below the 9-day and 21-day moving averages, it could hit the first support level at $0.360.
However, heading towards the lower boundary of the channel may lead the coin to the critical support levels at $0.320, $0.300, and $0.280. Meanwhile, the technical indicator Relative Strength Index (14) moves in the same direction above the 50-level, which indicates that the buyers may begin to gain control of the market and this could also mean that another signal of ADA could be pushing back towards the $0.419 level.
Against Bitcoin, the daily chart shows that the Cardano price is attempting to cross above the 21-day moving average around the 1946 SAT. However, as soon as the price moves toward the channel, there is a possibility that additional gains could be obtained. If the price keeps rising, it could even break the resistance level of 2300 SAT and above in the next positive move.
Moreover, if the bears regroup and move below the 9-day moving average, 1800 SAT support may play out before rolling to the critical support at 1600 SAT and below. The Relative Strength Index (14) is likely to cross above the 60-level if the buyers increase the pressure.
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