Cardano Price Prediction for Today, January 5 – ADA Technical Analysis

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The Cardano price prediction reveals that ADA follows the bullish movement over the past few days but currently ranging.

Cardano price now – $1.092
Cardano market cap – $38.43 billion
Cardano circulating supply – 35.15 billion
Cardano total supply – 44.99 billion
Cardano Coinmarketcap ranking – #9

ADA (Cardano) exemplifies the potential of early crypto investments, soaring +6212.11% from its all-time low of $0.01735 in October 2017 to its current range of $1.06–$1.11. While it has retraced from its peak of $3.10 in September 2021, ADA remains a key player in the crypto market. Its growth journey highlights the rewards of identifying innovative projects early and staying engaged in the evolving blockchain space.

ADA/USD Market

Key Levels:

Resistance levels: $1.550, $1.600, $1.650

Support levels: $0.650, $0.600, $0.550

Cardano Price Prediction for Today, January 5 – ADA Technical Analysis — ADAUSD – Daily Chart

ADA/USD currently shows considerable strength, positioning itself as one of the top-performing cryptocurrencies. Against USD, ADA demonstrates significant upward momentum, fueled by positive market sentiment and technical indicators. The coin breaks a 12-hour downtrend, signaling a potential trend reversal. However, it faces major resistance in the $1.050 to $1.150 range. Historically, ADA struggles to break such resistance levels without strong market conditions and higher trading volumes. At present, the price consolidates between $0.880 and $1.100, forming a stable base for potential future movements.

Cardano Price Prediction: Where Could ADA Price Go Next?

Looking at the daily chart, the Cardano price reveals a continuation of the bullish momentum as the price trades at $1.092, comfortably above both the 9-day Moving Average (MA) at $0.954 and the 21-day MA at $0.944. The upward trend is supported by the ascending channel pattern, with the next significant resistance levels at $1.550, $1.600, and $1.650 respectively. If the price sustains this upward trajectory, a breakout above this resistance could signal further gains, potentially leading toward $1.700 in the medium term.

On the downside, if the bulls lose momentum, the price may retest the immediate support level at $0.944, near the 21-day MA. A break below this level could push the price further down to the channel’s lower boundary at $0.650, $0.600, and $0.550, which represents a strong support zone. For now, the price action remains bullish as long as the market stays above the moving averages and within the ascending channel.

ADA/BTC Heads to the Upside

The Cardano (ADA/BTC) daily chart shows a bullish continuation pattern, with the current market price at 1117 SAT. The price is trading above the 9-day Moving Average (996 SAT) and the 21-day Moving Average (969 SAT), signaling positive momentum. The upward trajectory is supported by the ascending channel pattern, with the next key resistance level at 1500 SAT and above. A breakout above this level could confirm stronger bullish sentiment, potentially targeting the upper boundary of the channel.

On the downside, if selling pressure emerges, the first significant support lies at the 21-day MA (969 SAT). A breakdown below this level could lead the price to test the channel’s lower boundary which could locate the support level of 750 SAT and below. For now, the market remains bullish as long as the price sustains above the moving averages and within the ascending channel.

Meanwhile, @Beastlyorion shared with his followers on X (formerly Twitter) his bullish price targets for $ADA this cycle, projecting a range of $3.5 on the low end to an optimistic $10 on the high end. He emphasized the potential for significant growth, encouraging investors to keep a close eye on the market dynamics driving these predictions.

$ADA Bull target this cycle: I'm thinking $3.5 on the low side, $10 on the high side.

What do you think? pic.twitter.com/83zLRLx41M

— Beastlorion🔺️ (@Beastlyorion) November 20, 2024

Cardano Alternatives

ADA’s price action reflects both potential and caution. The technical indicators suggest consolidation and the possibility of a bullish breakout, while the fundamentals raise questions about sustained growth. As Cardano navigates these dynamics, its performance against USD continues to attract the attention of traders and investors. However, Wall Street Pepe continues to make waves in its presale stages, attracting massive investments averaging $1.3 million daily, with peaks reaching up to $6 million on some days. This immense demand reflects the growing interest in the token, which has already raised over $41.7 million.

Wall Street Pepe Expected To Run At Least 10x Higher

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