Cardano looks ready for a big price hike

The Cardano price has risen sharply in recent days. This is due to a huge increase in buying pressure. Several analysts expect the ADA price to rise to $1.45 soon.

ADA price fluctuates

The Cardano price is thus on the rise and the increase in buying pressure seems to indicate that the bullish trend may continue for a longer period of time. ADA must first overcome one crucial hurdle to confirm this.

The Cardano price rose about 26% between January 10 and January 13, hovering around $1.35. Shortly thereafter, ADA fell 10% and the trend reversed. As a result, the price fell back to $1.23 on January 14. Since then, however, the positivity around Cardano has completely returned. 1 ADA token is already worth $1.39 at the time of writing. Especially the breakthrough of the $1.38 from just now a good sign.

In a very bullish case, ADA will increase the weekly resistance barrier stretching from $1.46 to $1.52.

Do you want to trade Cardano on one of the largest and most reliable exchanges in the world? Click here. and go to KuCoin.

On the other hand, if the Cardano price falls back below the $1.35 barrier, that could be a negative sign for investors. This rejection could lead to a downward trend. This would mean that ADA will slide back towards the USD 1.20 weekly support level. Here, buyers can team up for a comeback. However, for now the Cardano charts look very positive.