Cardano is ready for a huge price increase
Cardano has shown a nice upward trend in recent days. The coin is therefore showing bullish signs that could lift the price well above $1. The ADA price is back above the 50 EMA For example, the 1D chart...
Cardano has shown a nice upward trend in recent days. The coin is therefore showing bullish signs that could lift the price well above $1.
The ADA price is back above the 50 EMA
For example, the 1D chart shows that ADA is trading above the 50-day Exponential Moving Average (EMA) again. That is a very bullish fact.
ADA 1D chart – Source: TradingviewSince Cardano is currently trading above its 20-day and 50-day EMAs, many traders have turned extremely bullish. These EMAs often provide strong resistance areas and when these are broken, the price can rise significantly.
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ADA price rises by 30% in a week
At the time of writing, the price of 1 ADA token is around $1.07. This means that the price has risen by more than 8 percent in 1 day. Cardano has even made a profit of more than 30 percent in the past 7 days. This makes ADA by far the best performing major crypto coin at the moment.
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