Cardano (ADA) Price’s Retest Successful, $5 Approaching Soon!
The post Cardano (ADA) Price’s Retest Successful, $5 Approaching Soon! appeared on BitcoinEthereumNews.com. Cardano price once again showcases its strength by remaining bullish during the weekly close. By not losing the momentum, ADA price which remained rock solid above...
Cardano price once again showcases its strength by remaining bullish during the weekly close. By not losing the momentum, ADA price which remained rock solid above $1 amid the crash, is looked as one of the profitable investments in 2021.
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Continuing the bullish streak, cardano price is expected to rally hard to the next levels breaking the upper barriers. However, the asset may rally as high as $5 as predicted by a popular analyst, Micheal de van Poppe.
Currently, all eyes are on monthly close as the higher the gains, the more intensified would be the bull run. According to an analyst RESEARCH 24/7, ADA price may record a double-digit gain to close the trade for May.
#Cardano $ADA begins quest for a new all-time high after 15% spike
ADA on pace to close May with a double-digit gain, despite the crash and resulting volatility.
Weekly close above 61.8% Fibonacci retracement level turns the tables on the bearish narrative. pic.twitter.com/BorQnV5iZu
— RESEARCH 24/7 (@smallcappick) May 30, 2021
Also Read: A Pretty Bullish Case Emerges For Cardano Price, Is $2 On Cards?
Cardano Price Analysis
The ADA price by sustaining successfully above $1 in the times of market destabilization demonstrated the strength to face the extreme conditions. And hence kept the bullish momentum uplifted, the price smashed $1.5 levels earlier and currently also successfully tested $1.6 levels.
Despite a dip in the volume, the price maintained its uptrend and successfully tested the upper resistance limit. A similar trend was seen with MATIC price as it recovered more than 60% in a very short time frame, yet maintained a sideway trend since then.
On the other hand, ADA rallied slowly yet steadily and heading strongly towards its ATH around $2.4. Considering the price at the press time that stands at $1.66 with a jump of 1.88%, flipping the downtrend.
Technical Specifications
- The resistance levels are at $1.79
- The support levels are at $1.44
- The indicators point out a buy signal
Source: https://coinpedia.org/price-analysis/cardano-ada-price-to-test-ath-soon/
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