Cardano’s price prediction reveals that ADA is starting to form higher as the bears push the coin above the channel.
Cardano price statistics:
- Cardano price now – $0.52
- Cardano market capitalization – $17.6 billion
- Cardano circulating supply – 33.7 million
- Cardano total supply – 34.2 billion
- Cardano Coinmarketcap Ranking – #7
ADA/USD market
Key levels:
Resistance levels: $0.65, $0.70, $0.75
Support Levels: $0.40, $0.35, $0.30
ADA/USD is likely to cross the upper boundary of the channel when the coin touches the resistance level of $0.54. However, for the past few days, ADA/USD has been trading above the 9-day and 21-day moving averages, preventing the coin from returning to the $0.50 support level.
Cardano Price Prediction: Will Cardano Continue to Rise?
The Gimbal Price is ready to create further bullishness as the coin continues to rise and could likely breach the upper boundary of the channel if the bulls reach the $0.55 resistance level. Therefore, any further bullish moves above this barrier could push the price to the potential resistance levels of $0.65, $0.70, and $0.75.
Nevertheless, this technical prediction may be invalidated if the bears cross below the 9-day and 21-day moving averages, any further bearish moves may reach the support levels of $0.40, $0.35 and $0.30. Additionally, the Relative Strength Index (14) technical indicator breaks above the 60 level to give the coin in the next positive direction.
ADA/BTC market: the price is moving up
Against Bitcoin, the Cardano price is trying to break above the 9-day and 21-day moving averages with a major resistance level of 2400 SAT. The long-term moving averages could likely sustain the bullish move as the market starts a new trend by breaking above the 21-day moving average.
However, if the buyers were able to push the price towards the upper boundary of the channel, higher resistance could be located at 2700 SAT and above while the technical indicator Relative Strength Index (14) remains below the 50 level, indicating that sellers are likely to play. out. Additionally, if the bulls fail to move the current market value above the aforementioned barrier, the bears may re-enter the market and the closest support level may be located at 1700 SAT and below.
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