Cardano Price Analysis: ADA Crypto Price Retains Its Momentum To Jump For The $4 Level

• ADA coin price is currently seeing a strong upside momentum on the daily chart . Meanwhile, ADA/BTC pair is down by 0.8% in the intraday session
• Cardano price may soon see a breakout above $3.2. Despite the delay in Alonzo protocol the price continues to reach new high every day

Why To Invest In ADA Crypto?

ADA crypto price is currently seeing a strong upside momentum on the daily chart and can soon cross above $4. Cardano price on the daily chart is near the value of $3 with an intraday gain of more than 0.9%. Cardano came into existence in 2017, and the  token is designed to ensure that owners can fully  participate in the operation of the platform. The platform has applications in various field. The company uses it to track fresh produce from field to consumer, while other products built on the Cardano platform allow educational credentials to be stored in a tamper-proof way, and helps retailers to clamp down on counterfeit goods. It has an ROI of more than 6664% which has remained consistently higher than the others in the market. One can predict a momentum upto $10 in the price in upcoming years.

The Alonzo update coming in the Cardano network can act as a strong catalyst for the price to reach a new high..The volume to market cap ratio of the asset price suggests a strong upside momentum .If the ratio crosses over 0.8 then a rally till $4 can be seen.

ADA Crypto Price Technical Indicators Hints Towards A Strong Upside Momentum 

The weekly technical chart of Cardano price suggests a strong upside momentum in price for the upcoming weeks. On the daily chart, the coin price is currently halting its bullish momentum near $3. ADA   price is currently trailing above the 50 and below 100 Daily Moving Average, with a positive crossover in the past. The 100MA  line is near $1.9 making it a temporary bounceback zone for the coin price. ADA price upside trend can see a halt near the value of $3.2. Meanwhile, the support in the coin price can be seen near $2.5. If it breaks above 15 to 20% above the current  level then a bullish trend can soon see a rise above $3.5. ADA/BTC pair can also observe a new high in the future . 

Conclusion

ADA crypto Alonzo update might push it to a new high in the future. ADA/BTC pair can also observe a new high in the future.

Technical Levels

Major Resistance:$3.2

Major Support: $2.5

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