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The Cardano price prediction shows that ADA is attempting to break more upsides as the coin moves to cross above the channel.
Cardano Prediction Statistics Data:
- Cardano price now – $0.52
- Cardano market cap – $19.2 billion
- Cardano circulating supply – 35.3 million
- Cardano total supply – 36.4 billion
- Cardano CoinMarketCap ranking – #8
ADA/USD Market
Key Levels:
Resistance levels: $0.60, $0.62, $0.64
Support levels: $0.38, $0.36, $0.34
ADA/USD is attempting to cross above the upper boundary of the channel while the $0.45 support level remains the critical support. However, for the past few days, ADA/USD has been hovering above the 9-day and 21-day moving averages, and this could push the coin to gain more upsides.
Cardano Price Prediction: Will Cardano Move Higher?
The Cardano price may continue to rise and could probably cross above the upper boundary of the channel if the bulls defend the $0.51 level. Therefore, any further bullish movement above the channel may push the price to the potential resistance levels of $0.60, $0.62, and $0.64.
Therefore, this technical analysis may be invalidated if the bears break below the lower boundary of the channel which could hit the support levels at $0.38, $0.36, and $0.34. Meanwhile, the 9-day moving average remains above the 21-day moving average, suggesting more bullish movements.
ADA/BTC Heads to the Downside
Against Bitcoin, the Cardano price is rising above the 9-day and 21-day moving averages as the coin touches the resistance level of 1212 SAT. Therefore, any further bearish movement toward the upside may create additional gains for the market.
However, if the buyers increase the buying pressure, higher resistance could be located at 1300 SAT and above. Looking at the daily chart, the 9-day MA is likely to cross above the 21-day MA, indicating that sellers are coming to play. Moreover, should the bulls fail to move the current market value to the upside, the bears may return to the market, and the nearest support level could be located at 930 SAT and below.
Alternatives to Cardano
In recent days, the Cardano price has demonstrated notable resilience, initiating a gradual upward trajectory. The potential shift towards a downward trend has been interrupted, as indicated by technical analysis. Today, in the early hours, Cardano reached a daily high of $0.53 while sustaining its bullish momentum. As of now, the 9-day Moving Average (MA) hovers above the 21-day MA, signaling a continued bullish sentiment.
However, Cardano (ADA) is currently experiencing a strong bullish trend, holding the 8th position in the crypto world with a market cap of $19.2 billion. Meanwhile, Bitcoin Minetrix (BTCMTX) introduces a revolutionary concept, allowing users to mine Bitcoin on Ethereum without technical expertise, upfront costs, or hardware maintenance. By tokenizing Bitcoin cloud mining, BTCMTX addresses security and centralization concerns, overcoming historical barriers to cloud mining adoption. Impressively, the token has raised nearly $5.2 million in its presale, reflecting growing interest in its innovative approach to decentralized mining.
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