Logo
Cardano Ecosystem

Cryptopolitan

10/29/2021

·

716 views


Cardano Price Analysis: ADA returns above $2 after a spike to $1.80

TL;DR Breakdown Cardano price analysis is bullish today. ADA/USD consolidates around $2. Closest resistance at $2.10. Cardano price analysis is bullish today as we expect further recovery after some consolidation around the $2 mark. Therefore, ADA/USD will likely move...

Cardano Price Analysis: ADA returns above $2 after a spike to $1.80

TL;DR Breakdown

  • Cardano price analysis is bullish today.
  • ADA/USD consolidates around $2.
  • Closest resistance at $2.10.

Cardano price analysis is bullish today as we expect further recovery after some consolidation around the $2 mark. Therefore, ADA/USD will likely move to retest the $2.10 previous major support as a resistance next.

 ADA returns above $2 after a spike to $1.80 1 Cryptocurrency heat map. Source: Coin360

The overall market traded in the green over the last 24 hours. Bitcoin gained 0.04 percent, while Ethereum was up by 4.42 percent. Meanwhile, Shiba Inu (SHIB) is the worst performer, with a loss of 9.25 percent.

Cardano price movement in the last 24 hours: Cardano rallies back above $2

ADA/USD traded in a range of $1.96 – $2.04, indicating mild volatility over the last 24 hours. Trading volume has decreased by 27.42 percent and totals $3.57 billion, while the total market cap trades around $66.65 billion, ranking the coin in 5th place overall.

ADA/USD 4-hour chart: ADA looks to test $2.10 next?

On the 4-hour chart, we can see consolidation around $2 over the past hours as the Cardano price action likely prepares for further upside.

 ADA returns above $2 after a spike to $1.80 ADA/USD 4-hour chart. Source: TradingView

Cardano price action has seen bearish momentum return this week. After consolidating above $2.10 for the past weeks, we saw increasingly lower highs set for ADA/USD.

Eventually, this movement led to a break lower on the 27th of October. Cardano declined to $1.80 for a brief time before rejecting back towards the $2 mark. 

Currently, Cardano price action consolidates around the $2 mark as bulls likely prepare to move towards the $2.10 mark. Alternatively, we expect further consolidation over the next 24 hours.

Cardano Price Analysis: Conclusion 

Cardano price analysis is bullish today as the market has seen some recovery after a strong selloff on Wednesday. Therefore, we expect ADA/USD to see further upside and move to retest the $2.10 mark as resistance next.

While waiting for Cardano to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

AD

World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!

Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!


Read Original Article on Cryptopolitan

ORIGINAL SOURCE

https://www.cryptopolitan.com/cardano-pr...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


NotifyLog - One stop tool for events tracking and analytics

More from Cryptopolitan

See more
Cardano price analysis: ADA shows a downtrend at $0.4033 after a red candlestick formation – Cryptopolitan
Cryptopolitan
Cardano price analysis: ADA shows a downtrend at $0.4033 after a red candlestick formation – Cryptopolitan

last Friday at 2:03 PM

·

5 views

Related News

See more
WingRiders Governance Token

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)
NotifyLog - One stop tool for events tracking and analyticsWorld’s First Multi-Token ISPO — By Genius X