Cardano Price Prediction for Today, May 21: ADA Bulls May Play Out Above $0.60

Insidebitcoins 1 month ago Report
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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 – $0.52
  • Cardano market cap – $17.8 billion
  • Cardano circulating supply – 33.8 billion
  • Cardano total supply – 34.2 billion
  • Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.85, $0.90, $0.95

Support levels: $0.20, $0.15, $0.10

Cardano Price PredictionADAUSD – Daily Chart

ADA/USD is currently trading around the $0.52 level below 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 $0.55. Meanwhile, if the market increases, additional resistance can be found above the 9-day and 21-day moving averages.

Cardano Price Prediction: Cardano (ADA) May Go Bullish

According to the daily chart, it is obvious that the Cardano price may create more bullish trends once the sideways movement fades away, and this is noticeable for the technical indicator Relative Strength Index (14) as the signal line may cross above the 40-level. Since a few days ago, Cardano (ADA) has been moving in the same direction as the market ranges.

Presently, the market is trading at $0.52 below the 9-day and 21-day moving averages, but any bearish movement below the daily low of $0.50 could lead the coin to a serious downtrend. However, the support levels for the coin could be located at $0.20, $0.15, and $0.10, while the resistance levels lie at $0.85, $0.90, and $0.95 respectively.

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ADA/BTC Market: Price Faces the Downside

When compared with Bitcoin, the support level of this range is built around 1781 SAT. The resistance is set at 1900 SAT because the market price is still changing below the 9-day and 21-day moving averages. Technically, the price continues moving sideways within the channel as the technical indicator Relative Strength Index (14) moves around the 40-level.

ADABTC – Daily Chart

However, if the Cardano price remains below the moving averages, ADA/BTC may likely hit the support level of 1500 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 2100 SAT and above.

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