Cardano Price Prediction for Today, July 31: ADA Price Ready to Cross Above $0.55

Insidebitcoins 1 week ago Report
Telegram LinkedIn

The Cardano price prediction may lack short-term, but if the price rises, the coin is likely to face moderate volatility in the market soon.

Cardano Prediction Statistics Data:

  • Cardano price now – $0.53
  • Cardano market cap – $17.9 billion
  • Cardano circulating supply – 33.7 billion
  • Cardano total supply – 34.2 billion
  • Cardano Coinmarketcap ranking – #7

ADA/USD Market

Key Levels:

Resistance levels: $0.70, $0.75, $0.80

Support levels: $0.35, $0.30, $0.25

Cardano Price PredictionADAUSD – Daily Chart

ADA/USD is currently trading around the $0.53 level above the 9-day and 21-day moving averages. In the range of the descending channel, the closest support is located at $0.50, with a close resistance at $0.54. Meanwhile, if the market increases, additional resistance can be found above the upper boundary of the channel.

Punt Crypto Casino Banner

Cardano Price Prediction: Cardano Price May Go Bullish

Looking at the daily chart, it is obvious that the Cardano price may follow bullish trends once the coin crosses above 0.55, and this is noticeable for the technical indicator Relative Strength Index (14) as the signal line may cross above the 60-level.

At the moment, ADA/USD is trading at $0.53 above the 9-day and 21-day moving averages, but any bearish movement below the support of $0.50 could lead the coin to a serious downtrend. However, the support levels for the coin could be located at $0.35, $0.30, and $0.25, while the resistance levels lie at $0.70, $0.75, and $0.80 respectively.

ADA/BTC Market: Price May Consolidate to the Upside

Again Bitcoin, the Cardano price is likely to face the upper boundary of the channel. Meanwhile, the support level of this coin is built around 2100 SAT while the resistance is set at 2500 SAT because the market price is changing above the 9-day and 21-day moving averages. Technically, the price may continue to head to the north as the technical indicator Relative Strength Index (14) moves above the 40-level.

ADABTC – Daily Chart

However, if the Cardano price crosses below the lower boundary of the channel, ADA/BTC may likely hit the support level of 1800 SAT and below. Moreover, any bullish movement above the moving averages may allow the market to form a new upward trend, and this could reach the potential resistance at 2700 SAT and above.

Battle Infinity - New Crypto Presale

Battle Infinity

  • Presale Until October 2022 - 16500 BNB Hard Cap
  • First Fantasy Sports Metaverse Game
  • Play to Earn Utility - IBAT Token
  • Powered By Unreal Engine
  • CoinSniper Verified, Solid Proof Audited
  • Roadmap & Whitepaper at

Battle Infinity

Read more:

Original Source:

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.

Join Our Weekly Newsletter of Cardano

Your weekly dose of Cardano news straight to your inbox!
GADA Finance is launching its Initial Stake Pool Offering (ISPO) Starting on June 29, 2022
Being the first permissionless and community-governed launchpad on Cardano, we intend to raise funds through a public ISPO which will enhance the Cardano ecosystem. CLICK HERE!