The Cardano (ADA) price prediction may likely settle above the 9-day and 21-day moving averages as the Relative Strength Index (14) moves above the 40-level.
Cardano Prediction Statistics Data:
- Cardano price now – $0.43
- Cardano market cap – $14.8 billion
- Cardano circulating supply – 34.2 million
- Cardano total supply – 34.9 million
- Cardano Coinmarketcap ranking – #8
ADA/USD Market
Key Levels:
Resistance levels: $0.52, $0.54, $0.56
Support levels: $0.35, $0.33, $0.31
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ADA/USD is could move to cross above the 9-day and 21-day moving averages within the channel. However, the Cardano price has been attempting to follow an uptrend, and should the buyers push it above the moving averages, the coin might head to the upside.
Cardano Price Prediction: What is the Next Direction for Cardano?
The Cardano price is moving to cross above the 9-day and 21-day moving averages and if the resistance of $0.45 gives way, the bull run may come to focus. At the moment, the bullish scenario seems more dominant as buyers continue to post firm commitments into the market. For the past few days, we could see a sharp rise in the market price. Moreover, if the coin crosses above the upper boundary of the channel, this could further strengthen the market to $0.52, $0.54, and $0.56 resistance levels.
On the downside, a lower possible swing may likely retest the previous support below the moving averages. However, if the bears manage to fuel the market, traders may expect a further drop to $0.35, $0.33, and $0.31 support levels. On the other hand, the technical indicator Relative Strength Index (14) is now moving towards 50-level, indicating that the market may retain the bullish trend.
Compared with Bitcoin, the Cardano remains below the 9-day and 21-day moving averages which may cross below the lower boundary of the channel. However, the buyers are expected to push the coin above the 9-day moving average so that the market price may end up closing on the upside.
Nevertheless, if the market price slides below the lower boundary of the channel, it could refresh lows under 2147 SAT and a possible bearish continuation may likely meet the major support at 2000 SAT and below while the buyers could the coin to the potential resistance at 2400 SAT and above. Meanwhile, to support the bearish movement, the technical indicator Relative Strength Index (14) is moving towards the south to give more bearish signals.
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