Logo
Cardano Ecosystem

Investingcube

10/30/2023

·

178 views


Cardano Price Prediction Is About To Flip Very Bullish: Here's Why

Cardano price has once again hit my bullish price target. In my previous ADA analysis, I predicted the smart contract cryptocurrency to hit $0.308 after a major breakout. This target has been perfectly met...

Cardano Price Prediction Is About To Flip Very Bullish: Here's Why

Cardano price has once again hit my bullish price target. In my previous ADA analysis, I predicted the smart contract cryptocurrency to hit $0.308 after a major breakout. This target has been perfectly met today as the price hit the daily high of $0.302.

Analysts are very bullish on the crypto prices due to the much anticipated spot Bitcoin ETF approval. Last week’s fake pump has shown what a potential approval of ETF can do to the Bitcoin price. This has resulted in traders stepping over each other to buy the pioneering digital asset before the approval from the SEC.

Consequently, Cardano price is on an absolute rampage. The price has soared 25% after hitting its monthly lows. Bulls are now eyeing another 33% gains as a clear break of $0.30 may unlock a huge upside potential. However, it may be too soon to call it a proper bullish reversal.

Since ADA is the native asset of the Cardano blockchain, its price action is directly tied to the network adoption. The slow development of the network has adversely affected the Cardano price action in the past two years. However, recent stats show that the development is accelerating as Cardano emerged as the fastest developing blockchain a few weeks ago.

Cardano Price Technical Analysis

In the last analysis, I predicted a 20% upside for ADA which was perfectly met. The latest technical analysis reveals that the coin has the potential to soar another 33% if the bulls manage to gain strength above the $0.30 resistance level. This particular level is a historic pivot for ADA price.

Therefore, I expect the Cardano price prediction to turn bullish when it breaks above 200 MA and the $0.30 level. These levels are clearly marked on the following chart. The 200 MA on the daily chart is shown as the red line while the 0.30 resistance is shown as a blue line.

Cardano price chart
ADA Price Analysis
AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on Investingcube

ORIGINAL SOURCE

https://www.investingcube.com/cardano-pr...

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.


Rare Evo: A Blockchain Event

More from Investingcube

See more
Cardano Price Prediction: ADAUSD Signals Recovery
Investingcube
Cardano Price Prediction: ADAUSD Signals Recovery

04/19/2024

·

87 views

Related News

See more

Argentina Digital Nation 2024
Rare Evo: A Blockchain Event
Argentina Digital Nation 2024

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)