Cardano (ADA) Price Rides Bullish Momentum Amid Market Rise
ADA’s price had risen to $1.20 from $1.10 only a day before. Cardano may aim for $1.41 if it rises The post has appeared first on thenewscrypto.com
8 hours ago | 2 mins read
Altcoin News - ADA’s price had risen to $1.20 from $1.10 only a day before.
- Cardano may aim for $1.41 if it rises beyond the $1.28 threshold.
Bitcoin seems to be making a strong push over $44,000 as the crypto industry reclaims $2 trillion again. Most importantly, Bitcoin has closed above its 50-day moving average of $42,500 for the first time in almost a month. In March 2022, famous crypto market researcher Lark Davis says the price of bitcoin might reach a new all-time high according to historical tendencies.
Cardano, on the other hand, has a promising chart. ADA’s price had risen to $1.20 from $1.10 only a day before. The $1.10 level has served as a barrier for ADA in the past.
ADA/USDT: Source: TradingViewThe coins price has risen by 6% in the previous 24 hours alone. The bulls will be able to break over the $1.28 immediate barrier level if prices remain above $1.20. Cardano may aim for $1.41 if it rises beyond the $1.28 threshold.
Read More: Cardano Price Prediction
Bulls Aiming for $1.41 Price Level
A narrow range of $0.90 to $1 has been defining the price of Cardano for the previous several weeks. ADA’s recent market-wide price rise has resulted in a northward movement. If the present price movement continues, ADA might soon be aiming for $1.41. Technically, the currency seems to be on the upswing. On the four-hour chart, the bulls were in control, indicating that there appears to be a significant amount of buying power.
ADA has shown a Golden Cross and gained 14.7 percent over the previous week. Cardano’s price is now above its 20-day simple moving average, indicating that the market’s momentum is tilted in favor of buyers. According to CoinMarketCap, the Cardano price today is $1.23 USD with a 24-hour trading volume of $2,528,470,263 USD. Cardano is up 5.51% in the last 24 hours.
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