Cardano price rises to $1.70 – What can we expect?
The Cardano chart is looking very bullish today. The ADA price has risen by 6% and seems poised to rise even further. In this article you can read what to expect. A positive trend reversal seems to be starting...
The Cardano chart is looking very bullish today. The ADA price has risen by 6% and seems poised to rise even further. In this article you can read what to expect.
A positive trend reversal seems to be starting
At the time of writing, the price of 1 ADA token is around $1.70. This while the price was still around $1.59 a day ago. This means that the Cardano price has risen by more than 6%. The price increase is even more noticeable as the rest of the major cryptocurrencies are losing money today. For example, the Bitcoin price has fallen by 2.2% and the Ethereum price by more than 4%.
On the above 4-hour chart, we can see strong bullish momentum for the past 24 hours. This is in contrast to the general downward trend of recent weeks.
After setting a new swing low at $1.41 last week, today we see the price suddenly rise above $1.70. Since Cardano price action has been very strong for the past few hours, we could see a trend reversal begin. The next resistance is at $1.75. Breaking this would be a very positive sign.
Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.
If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us
