- ADA coin price is currently in an uptrend and can soon cross beyond $1.5 . Meanwhile, ADA/BTC pair has seen a loss of 2.97% in the intraday session.
- Cardano price technical indicators suggest an uptrend for the price in the future. Meanwhile, it continues to travel in an upside parallel channel for the new high.
ADA coin price is currently in an uptrend and can soon cross beyond the level of $1.8. Cardano price has seen a gain of 3.5% in the intraday session and is currently trading near the value of $1.31. Cardano price bullish momentum on the upside can see a halt near the value of $2. In contrast, the bounceback region of the price can be found near the value of $1. The asset price has seen a gain of more than 600% within six months. ADA/BTC pair can also observe a strong bullish momentum in the future. One can invest in Cardano according to the positive breakout and price action.
ADA coin price is currently down by more than 46% from its all time high of $2.46. The asset price is currently ranked 5th in the CMC and has a market dominance of more than 2.59%. The volume to market cap ratio of the coin is near 0.032 suggesting a consolidated momentum. If the ratio crosses over 0.8 then a strong bullish momentum can be seen.
Technical Indicators Hints Towards An Upside Momentum For ADA Coin Price
The weekly technical chart of Cardano suggests a strong bullish momentum for upcoming weeks. On the daily chart, the price is currently on an uptrend and can soon see a new high in the future. Cardano price is currently trading below the 50 and100 Daily Moving Average, with an upcoming positive crossover The 50MA line is near $1.33 making it a temporary hostile region for the price. The price may soon see a breakout above the 50MA and 100MA. There is a parallel channel formation in the asset price. If it breaks above 15 to 20% above the level then a strong bullish momentum can be seen.ADA/BTC pair is currently in a slump and can soon revert back to the uptrend. One might soon see a breakout above $2 in Cardano.
Conclusion
ADA coin price is currently in an uptrend and can soon see a breakout above $2. ADA/BTC pair can also observe a new high in the future.
Technical Levels
Major Resistance:$2
Major Support: $1
Rajat is an MBA graduate specialized in finance who is a motivated self-starter, highly organized, and holds a good flair for understanding financial markets. His interest in economics and finance draws his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. His primary focus is on cryptocurrency price analysis and industry news coverage.