According to the daily chart, the Cardano price prediction shows that ADA breaks out as the price aims for a new high at $0.50.
Cardano Prediction Statistics Data:
- Cardano price now – $0.410
- Cardano market cap – $14 billion
- Cardano circulating supply – 34.3 billion
- Cardano total supply – 35 billion
- Cardano Coinmarketcap ranking – #8
Resistance levels: $0.50, $0.52, $0.54
Support levels: $0.30, $0.28, $0.26
ADA/USD with all its blazing guns hits a new monthly high above $0.41 surging more than 14.8% at the time of writing. As expected, the cryptocurrency with a market cap of $14 billion has finally given a breakout about 9-day and 21-day moving averages, which has now entered the price discovery mode. However, the journey has just started for the coin as the Cardano price is eyeing the $0.50 level to be its next target.
Cardano Price Prediction: Would Cardano Price Move Higher?
Looking at the daily chart, the Cardano price can be expected to rise to $0.50 over the next few days while the ongoing trend may move a little bit higher in the coming days. ADA/USD may cross above the upper boundary of the channel to touch the nearest resistance of $0.45. Therefore, as the 9-day MA moves to cross above the 21-day MA, the coin may continue to do well and the price could hit the resistance levels at $0.50, $0.52, and $0.54 respectively.
Meanwhile, ADA/USD is currently changing hands at $0.41 amid a building bullish momentum. However, the technical indicator Relative Strength Index (14) also confirms the uptrend while the signal line crosses above the 50-level, suggesting more bullish signals into the market. Any bearish movement below the 9-day and 21-day moving averages could roll the market to the support levels of $0.30, $0.28, and $0.26.
Against Bitcoin, the market price focuses on the uptrend within the channel as the coin trades above the 9-day and 21-day moving averages. ADA/BTC is currently trading at the 2018 SAT and if the market continues to rise, the next key resistance could be at 2300 SAT and above.
On the contrary, if a possible bearish movement brings the coin below the lower boundary of the channel, this could lead the coin to the support level of 1600 SAT and below. Meanwhile, the market may continue to have a bullish day because the Relative Strength Index (14) is moving to cross above the 50-level, suggesting more bullish signals.
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