Cardano Price Still Trending in ‘Buy Zone’, Good Time to Accumulate!
The post Cardano Price Still Trending in ‘Buy Zone’, Good Time to Accumulate! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Cardano Price May Revisit Levels Below $1 The Cardano price currently is attempting very...
Cardano Price May Revisit Levels Below $1
The Cardano price currently is attempting very hard to break the upper resistance levels around $1.2. Woefully failed and plunged to some extent and feared to slip further below $1 also before a healthy jump.
The ADA price that slipped out of the range may drop to lower levels in the coming days below $1 too. Therefore offering a possible buy zone for the traders to accumulate before a major spike that could rally above the yearly highs too.
As the chart manifest the contracting trading volume, it is mandatory for the ADA price to trend within the current zone to attract more buyers. The plunge to the lower prices might increase the volume drastically which might spike the price notably.
The price may retrace and revisit the levels below $1 touching the lower barrier of the buy zone. However, a decent bounce may be expected further after accumulating a good number of buyers within the range.
Also Read: Top Reasons Why Cardano Is Most Preferred by Retail Traders |ADA Price
A Huge Breakout Approaching Soon!
As mentioned above, the price currently is trading within a narrow range, and may also dip further below $1. However, according to analysts, TOP AIM STOCKS, price hints at a 25% breakout from the current consolidation phase.
At the time of writing, the Cardano price is $1.07 with a dip of nearly 3.58% in the past 24 hours. Currently, to pump the Cardano price it is mandatory for the price to view more dips so that the buyers jump in the space. Hence more accumulation may lead to a more drastic price surge that may lead the price towards the yearly highs.
Technical Specifications
- The resistance levels for Cardano Price stand around $1.2 initially if broken successfully, it may smash the yearly highs at $1.4 and rally further towards ATH.
- The support levels however have been broken at $1.1 and the next support levels are at $0.8
- The indicators for ADA price are currently neutral
Also Read: Cardano Price Rallies Securing Its Position in the Top 5
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