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Cardano price prediction shows that ADA has failed to break out of the 21-day moving average and is currently hovering in a range.
Cardano Prediction Statistics:
Cardano Current Price- $0.311
Cardano Market Cap- $10.6 billion
Cardano Circulating Supply – 34.4 billion
Cardano Total Supply – 35.1 billion
Cardano Coinmarketcap Ranking- 9th
ADA/USD Markets
Key Levels:
Resistance Levels: $0.400, $0.450, $0.500
Support Levels: $0.250, $0.200, $0.150
After touching the daily high of $0.319, ADA/USD remains below the 9-day and 21-day moving averages and the price is now affected by the price action above the 9-day moving average. However, as the bears re-enter the market, Cardano bulls are trying to drive the price higher.
Cardano Price Prediction: ADA/USD Ready to Move Up?
According to the daily chart, Cardano price is expected to head north as the coin moves above the 9-day and 21-day moving averages. However, a bullish crossover above this hurdle is needed to correct the current sideways movement and drive the coin upwards. Once this hurdle is cleared, the upside is expected to gain momentum and the next focus will be on the $0.400, $0.450, and $0.500 resistance levels.
If the Cardano price falls below the opening price of $0.309, the coin price may hit the nearest support level of $0.300. Once this support level is broken, the selling may accelerate and fall below the lower boundary of the channel. However, the downward pressure may increase and the next support levels may be located at $0.250, $0.200 and $0.150, while the technical indicator Relative Strength Index (14) will cross the 40 level.
As for Bitcoin, Cardano price is in a downtrend according to the daily chart, and the technical indicator Relative Strength Index (14) also shows that the price of the currency is facing downward pressure. Although the market price is unstable, it is hovering around 1853 SAT. At the same time, a small correction may push the price of the currency down to the lower boundary of the channel and touch the support level of 1500 SAT and below.
Conversely, if the buyers can defend the current 1853 SAT level and push it above the 9-day and 21-day moving averages, breaking out of the upper boundary of the channel, it could hit the potential resistance level of 2400 SAT and above.
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Related:
D2T Price Prediction
How to buy D2T
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