Cardano Price Analysis: Will ADA Fly Upto $2.0 in 2021?

• Cardano bounced back from $1.01 to $1.40 on Thursday’s trading session
• The 24-hour volume in ADA is at $9,889,409,087 with a 7.02% decrease
• The ADA/BTC pair was trading at 0.00002406 BTC with a gain of 5.09%

The 4-hour technical chart of Cardano projects an uptrend. According to pivot points, ADA’s critical support level is placed at $1.01. Whereas if it moves up, the key resistance level to watch is $1.45. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish engulfing candlestick pattern which represents bulls are in control.

SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) is above the SMA-50 (white), which projects a bullish trend. The price is also above SMA-100 (red). Investors may perceive a positive crossover in the SMA, and the price will also follow the positive trend.

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RSI indicator (OVERBOUGHT), with a value of 76, indicates a buy signal in the coin. Moreover, Investors can see an upward slope from 63 to 76 in the index, and it may surge more in future trading sessions.

Bullish Trend Confirmed In Cardano 

Cardano price traded at $1.40 with a gain of 9.03% in the last 24-hour and 24.10% up in the weekly time-frame. Furthermore, Cardano bounced back from the support of $1.01. In contrast, the market capitalization stands at $44 billion. Technically, investors can perceive a positive crossover in SMA. Moreover, the price movement can be above the resistance of $1.45.

Resistance: $1.45

Support: $1.01

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