Cardano price prediction: Cardano spikes 10 percent, retests $1.80 support as the market prepares to move higher
TL;DR Breakdown ADA Finds support around $1.50 overnight. Previous resistance at $1.80 broken. ADA/USD peaked at around $1.955. Today’s Cardano price prediction is bullish as the market retraced to retest the $1.80 resistance as support over the past hours....
TL;DR Breakdown
- ADA Finds support around $1.50 overnight.
- Previous resistance at $1.80 broken.
- ADA/USD peaked at around $1.955.
Today’s Cardano price prediction is bullish as the market retraced to retest the $1.80 resistance as support over the past hours. Therefore, we assume ADA/USD will continue pushing higher over the next 24 hours.
The cryptocurrency market trades with a substantial loss over the last 24 hours. Bitcoin has lost 12 percent, while Ethereum almost 11 percent. Cardano (ADA) has moved counter to the overall market and has posted a 10 percent gain over the last 24 hours.
Cardano price prediction: Cardano retests $1.80 support as the market prepares to move higher
ADA/USD opened at $1,566 after retracing towards the $1.50 support overnight. Since then the Cardano price moved higher until the $1.95 mark was reached. Currently, the $1.80 support is retested, indicating we will see further upside over the next 24 hours.
Cardano price movement in the last 24 hours
The ADA/USD price traded in a very volatile range of $1.51 – $1.96 over the last 24 hours. 24-hour trading volume has spiked by 178 percent and totals $13 billion. Meanwhile, the total market cap stands at $59.5 billion, resulting in 4th place overall.
ADA/USD 4-hour chart – ADA spikes to $1.955
On the 4-hour chart, we can see the Cardano price action starting to move higher again after retesting support around $1.80.
Cardano has performed extremely well over the past weeks after a new major swing low was established around the $1 mark. From there, ADA/USD rallied over 95 percent until a new all-time high was set at $1.955 earlier today.
While moving higher, Cardano established several strong support resistance areas, with the first being around the $1.25 mark. From there, ADA moved higher to the next major price target of $1.80. Cardano started moving sideways from there and retested the $1.80 resistance and $1.50 support. The last spike lower was seen on the 13th of April, with ADA reaching the $1.955 mark in less than 24 hours. Therefore, the overall market momentum is still very bullish.
During the last hours, the Cardano price moved to retest the previous major resistance around $1.80 as support. From there, the market has started to rally once again, indicating that we should see further upside over the next 24 hours, with the $2 mark likely to be broken without much resistance.
Cardano Price Prediction: Conclusion
Cardano price prediction is bullish as the market set a new all-time high and retested previous resistance as a support around $1.80. Currently, ADA/USD starts to move higher, indicating that further upside will be seen over the next 24 hours.
While waiting for further Cardano price action development, read our guides on Ethereum Classic, Monero, and Bitcoin Gold.
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.
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
