ADA/USD bulls breach $2.5 resistance and now heading for a fresh ATH


TL;DR Breakdown

  • Today’s Cardano price analysis is bullish after a 0.654 percent surge
  • ADA/USD traded within a daily range of $2.43 – $2.63.
  • Cardano price action has witnessed bullish patterns in the past 4 -weeks. 

Today’s Cardano price analysis is bullish after a 0.654 percent continuation to the $2.5106 region. Cardano bounced from a daily low of $2.3810, thereby defending the bulls from sinking below the $2.00 support. We expect to see more gains in the next 24 hours as buyers sustain the momentum and strongly defend the overhead demand zone. 

Cardano price movement in the last 24 -hours: Will bulls expand the range with higher lows and higher highs?

According to our Cardano price analysis, ADA/USD traded within a daily range of $2.43 – $2.63. Such a tight range suggesting low volatility across the daily chart. Cardano’s trading volume faced a 21.40 percent plummet to a total of $5.28 billion. The total market capitalization stands at $84.7 billion after a 5.10 percent surge in the last 24 hours. 

4-hour Cardano Price Analysis: Bulls aim for $3.00

On the 4-hour Cardano price analysis, DOT/USD is trading upwards as bulls attempt to cross into the $2.6 region.  Bulls have their eyes focused on the $3.00 upper target and are working against time to build momentum and get there soon. The bulls seem persistent to set a new high on the 24-hour chart, but their attempts are being met by take-profit traders. 

Cardano price action has witnessed bullish patterns in the past 4 -weeks. This was after the coin underwent a rapid swing low in June to the $0.95 mark ahead of rallying by approximately 200- percent to the press time price of $2.50.

Source: Tradingview

ADA/USD did not have a good start into the week following a 20 percent retracement to the $1.7 support mark. The bears are still acting against the upper support levels and persistently want the price to retest this mark. Nonetheless, Cardano’s price action hit a higher low at that point, and the altcoin’s market has been consolidating above it for the past 48-hours. 

Cardano price analysis conclusion

Cardano price analysis is bullish as a strong rally was seen yesterday, and the market price currently trades just near the $2.64 mark. Therefore, we expect ADA/USD to swing higher later today and target the $2.68 mark next.While waiting for ADA/USD to move further, read our articles on Decentralized Exchanges,   Bitcoin Futures, and NFT Marketplace.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Source link

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

What do you think?

Bitcoin Adoption Explodes: German Commodities Fund Can Invest 5% In Bitcoin | CryptoGazette

How a 12-year-old earned 106 ethers by creating an NFT collection and selling it out within a day