Cardano Price Analysis – As Cardano Bulls Continue, Cardano ADA Spike 4%

Most top coins are currently trading in green against the USD. The bears have lost the grip on the market and given the bulls an opportunity to dive in.

Even the flagship cryptocurrency, Bitcoin, has gained above the $5300 level this morning and it is still rising against the USD.

Before the end of trading today, the price of Bitcoin is expected to move as high as $5400. The higher it goes, the higher altcoins would go and this includes Cardano ADA.

Cardano (ADA) Performance 2019

Today, the price of Cardano is up against the USD. This bull run came with a breath of fresh air in the space as it has rekindled the faith investors have in the future of Cardano ADA. Right now, the price of Cardano ADA is moving up there are resistance levels at $0.1200, $0.1400 and $0.1600 while there are support levels at $0.0500, $0.0300, and $0.0100.

This morning, just before the price of ADA started to trade higher, it was stuck in a tight range between $0.6000 and $0.7000. On the 25th of April, the price of Cardano ADA broke the lower part of the range.

This was followed by a quick bull surge and another correction. In the next few trading sessions, the price of Cardano ADA is expected to move as high as $0.07444 which happens to be below the 10- EMA.

Two days ago, on the 28 of March, the bears pushed the price of Cardano as low as $0.6566. This was a repeat of what happened on the 25th of April as well.

After the bears ran out of steam, the price was pushed back to the upper part of the range. The price of ADA is trading in a wider range between $0.1000 and $0.0700 long-term.

Cardano Price Prediction 2020 – Cardano Price Prediction 2019

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Bitcoin (BTC)
$10,577.34
-1.40%
Ethereum (ETH)
$351.49
-1.22%
Cardano (ADA)
$0.097508
-2.10%

At the time of writing, the price of Cardano was bullish against the USD trading at $0.068327. This means that it is up by 4.37% against the USD and up by 2.07% against the price of BTC. The trading volume over a 24 hour period is $64,187,714 and the market capitalization is $1,771,514,863. By the end of 2020, ADA is going to sell as high as $5.

Cardano ADA Price Analysis – Cardano Decline Finally Over?

Cardano ADA, like many other cryptocurrencies in the market, has had a rough few weeks. The price of ADA fell significantly against the USD right after trending bullish for days.

Cardano (ADA) Price Prediction 

While the Cardano price prediction 2019 and Cardano price prediction 2020 was still bullish because of Cardano Shelley and some other upgrades that the team is working on, the short-term trend of Cardano was negative.

Cardano price extended losses and tested the $0.0650 support area. According to the lates Cardano ADA analysis on blockonomi; ADA seems to be forming decent support and it could start a strong rebound versus the USD and bitcoin.

Cardano price declined below the $0.0720 and $0.0700 support levels, and tested $0.0650.
ADA could started a substantial recovery once there is a break above $0.0735 and $0.0750.

Immediate resistance is near the $0.0720 level and the 76.4% Fib retracement level of the last decline from the $0.0741 high to $0.0655 low.

More importantly, this month’s identified declining channel is still in place with current resistance at $0.0732 on the same chart.

The next key resistances are near $0.0800 and $0.0805, above which the price could rally towards $0.0850. Alternatively, if Cardano fails to move past $0.0750, there could be additional losses.

On the downside, immediate support is at $0.0670, followed by the key $0.0655. If major cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Ripple and EOS continue to struggle, it won’t be easy for ADA buyers to push the price above $0.0750.

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Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.