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The Cardano price prediction reveals that ADA has been following the bearish movement over the past few days but the coin now appears to face a bullish run.
Cardano Prediction Statistics Data:
- Cardano price now – $0.413
- Cardano market cap – $14.3 billion
- Cardano circulating supply – 34.7 billion
- Cardano total supply – 35.7 billion
- Cardano Coinmarketcap ranking – #7
ADA/USD Market
Key Levels:
Resistance levels: $0.500, $0.520, $0.540
Support levels: $0.330, $0.310, $0.290
ADA/USD is moving up with a slight increase of around 2.74% during the European session today; it is currently trading at $0.413 above the 9-day and 21-day moving averages. For the past few weeks, the Cardano price experiences hard times crossing above the moving averages as the previous attempts so far have failed. Despite this, ADA/USD is still making an effect to head toward the upper boundary of the channel.
Cardano Price Prediction: Where Could ADA Price Go Next?
Since the past few days, the Cardano price has remained relatively strong as the coin begins the journey to the upside gradually. At the moment, the movement to a downward trend has been cut short as revealed by the technical indicator. In the early hours of today, the Cardano price touches the low of $0.401 but still maintains the bullish movement. Therefore, bulls had already taken the price up to $0.415 before the bears step back and took it down.
Moreover, a significant cross above the upper boundary of the channel could sustain the bulls to a $0.450 high. Meanwhile, if ADA manages to surge above this level, it may see the resistance levels at $0.500, $0.520, and $0.540, while a bearish drop may bring the price to the support levels of $0.330, $0.310, and $0.290. Meanwhile, the Relative Strength Index (14) indicator shows some bullish signals as the signal line moves to cross above the 60-level.
Against Bitcoin, before this time, the market price has been moving bearishly and trading below the 9-day and 21-day moving averages. For now, ADA/BTC is trading at 1412 SAT and expecting a break above the moving averages. Meanwhile, looking at the daily chart, the bulls are now struggling to push the market price toward the north.
Nevertheless, if the market drops and heads toward the lower boundary of the channel, the next key support may come at 1100 SAT and below. On the bullish side, a possible rise could push the market above the upper boundary of the channel to hit the resistance level of 1700 SAT and above. The technical indicator Relative Strength Index (14) is moving in the same direction above the 50-level, suggesting sideways movement.
Cardano Alternatives
Looking at the daily chart, the Cardano price is crossing above the 9-day and 21-day moving averages. However, if the buyers reclaim the daily high of $0.415, the first resistance level may be located at $0.430 as this could also be followed by $0.450. For the time being, the market price could be moving toward the resistance level of $0.450 while the trading volume may begin to confirm the bullish movement. Nevertheless, the presale for the Love Hate Inu (LHINU) token is selling fast, and about $8 million has been raised so far. Traders are therefore encouraged to act fast before the expiration of the presale.
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