Cardano Price Reached A Plateau, This Is How It Will Reach $2.4?
The post Cardano Price Reached A Plateau, This Is How It Will Reach $2.4? appeared on BitcoinEthereumNews.com. Most of the altcoins along with Bitcoin inculcated a sideways trend today. Despite a decent volume, ADA price traded around $1.5 levels....
Most of the altcoins along with Bitcoin inculcated a sideways trend today. Despite a decent volume, ADA price traded around $1.5 levels. However, the price frequently dipped below $1.5 yet recovered in a short time frame. No doubt the Cardano price prediction by the end of 2021 stands at a higher-end, yet the current levels suggest a misty cloud on the rally.
The price after a huge spike above $2.4 underwent a massive sell-out and slashed close to $1. Yet the probability of the bull run is still alive as the price is about to test certain levels. The price currently is trending around 20-day MA and if the buyers uplift the price above these levels around $1.58, an uptrend may be imminent.
Also Read: Bitcoin Price Likely To Experience A Death Cross This Weekend, What’s Next?
As mentioned in the above chart, the ADA price is trending within pivotal zones, where-in testing the upper levels is mandatory. The 20-day MA levels at $1.58 is the decesive phase which can be flipped into the support levels in future. However, once the price attains these levels, the next strong resistance levels lies around $1.88.
The successful journey above the resistance levels may extend towards the initial target of around $2. On the bearish note, if the price fails to test the 20-day MA levels, then a dip towards $1.47 may be fast approaching. The Cardano price at the time of writing stands at $1.48 with a dip of 1.38% compared to the previous trading day.
Source: https://coinpedia.org/price-analysis/cardano-price-reached-a-plateau/
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