Cardano Price Prediction for Today, July 31: ADA Price Ready to Cross Above $0.55

Updated: 31 July 2022

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The Cardano price prediction may lack short-term, but if the price rises, the coin is likely to face moderate volatility in the market soon.

Cardano Prediction Statistics Data:

Cardano price now – $0.53
Cardano market cap – $17.9 billion
Cardano circulating supply – 33.7 billion
Cardano total supply – 34.2 billion
Cardano Coinmarketcap ranking – #7

ADA/USD Market

Key Levels:

Resistance levels: $0.70, $0.75, $0.80

Support levels: $0.35, $0.30, $0.25

ADA/USD is currently trading around the $0.53 level above the 9-day and 21-day moving averages. In the range of the descending channel, the closest support is located at $0.50, with a close resistance at $0.54. Meanwhile, if the market increases, additional resistance can be found above the upper boundary of the channel.

Cardano Price Prediction: Cardano Price May Go Bullish

Looking at the daily chart, it is obvious that the Cardano price may follow bullish trends once the coin crosses above 0.55, and this is noticeable for the technical indicator Relative Strength Index (14) as the signal line may cross above the 60-level.

At the moment, ADA/USD is trading at $0.53 above the 9-day and 21-day moving averages, but any bearish movement below the support of $0.50 could lead the coin to a serious downtrend. However, the support levels for the coin could be located at $0.35, $0.30, and $0.25, while the resistance levels lie at $0.70, $0.75, and $0.80 respectively.

ADA/BTC Market: Price May Consolidate to the Upside

Again Bitcoin, the Cardano price is likely to face the upper boundary of the channel. Meanwhile, the support level of this coin is built around 2100 SAT while the resistance is set at 2500 SAT because the market price is changing above the 9-day and 21-day moving averages. Technically, the price may continue to head to the north as the technical indicator Relative Strength Index (14) moves above the 40-level.

However, if the Cardano price crosses below the lower boundary of the channel, ADA/BTC may likely hit the support level of 1800 SAT and below. Moreover, any bullish movement above the moving averages may allow the market to form a new upward trend, and this could reach the potential resistance at 2700 SAT and above.

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