Home Cryptocurrency Cardano price analysis: Is ADA rebound heading towards $2

Cardano price analysis: Is ADA rebound heading towards $2

by Serge Shlykov

For those who haven’t been following the cryptocurrency market, Cardano (ADA) is a smart contract platform that has been in the news recently. In a nutshell, the project is trying to solve the problem of designing smart contracts that are secure and scalable. Cardano is powered by a new technology called Ouroboros, which is said to be faster and more efficient than other smart contract platforms. The project has recently released its latest update which includes new features and improvements.

ADA is currently trading at $0.17, and is up 6.5% over the past 24 hours, and 10% over the past week. It appears that ADA has reached an important resistance level of $0.22, and that it needs to move above it in order to move higher. ADA price analysis suggests that a pullback to the $0.17 price point is likely, although there is potential for a spike above $0.23 in the near future. It is always best to wait for a pullback before buying or selling ADA, since you will need to have the funds to buy or sell at the prices you want. In addition, it is important to be aware of the risks involved with trading digital currencies, and

The cryptocurrency market is changing rapidly and Cardano (ADA) is no exception. After experiencing a catastrophic price fall, the cryptocurrency has been slowly recovering and is now rising above the $1.20 mark. Looking ahead, it is likely that ADA will continue its upward trend and reach the $2 mark.. Read more about cardano price prediction 2030 and let us know what you think.

Summary of the situation

  • The price analysis for Cardano turns bullish in the context of a price rebound from the $1,000 bottom.
  • The price has tilted in the past 48 hours amid increased buying activity.
  • The overall positive sentiment on cryptocurrencies is helping the bulls to maintain the uptrend.
  • The ADA rebound remains under selling pressure, with the price near $1.50 per ounce.

Cardano Price Chart by TradingView

Hope for an uptrend is alive and well in Cardano’s price analysis. Investors and traders seem optimistic about the current growth. On the upside, ADA will hit the first specific resistance at $1.50, where the pair will likely encounter strong selling pressure. Analysis of Cardano price suggests that traders and investors are taking a low buy approach and making intraday gains on the current uptrend.

Price is stagnating at the upper Bollinger Band at $1.40. The bullish momentum could be subject to a correction if the bears place sell orders at the $1.40 resistance level. The currency is trading near its 100-day moving average. The RSI is approaching the 60 level on the hourly chart, indicating that there is still plenty of room to run.

Cardano price analysis output: Massive support from supporters will help the ADA

Today’s rise to $1.3890 is supported by extensive support below the pair. Volumes are a bit low, but enough to push the pair to the $1.50 level. The head and shoulders model shows that the pair stagnates first and then moves up, according to Cardano’s price analysis.

After today’s rise, the bears are not losing hope. They will try to stop the current rally around the $1.50 level, where resistance means massive selling could stop the rise. The ADA will also correct near the current $1.30 support level before a decision is made on how to proceed.

Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.A month ago, the Cardano price hovered around the $0.17 mark, after which, it dropped to a yearly low of $0.08, and at the time of writing, it’s up by around 100% over the last few days. By any measure, this is a monumental move for the ADA token (or whatever you want to call it), which has gained momentum and has approached $2 in the past few days.. Read more about cardano price prediction 2022 and let us know what you think.

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