Thursday, September 16, 2021
Home Crypto News Analysis Cardano Price Prediction: Cardano Awaits A Range Breakout For 40% Upswing

Cardano Price Prediction: Cardano Awaits A Range Breakout For 40% Upswing

- Advertisement -

Cardano anticipates a breakout from a range of two key moving averages (50 SMA and 100SMA) in the 12-hour chart.

Bullish RSI is giving hope to ADA buyers. On a sustained break above the 100 SMA, the ADA price will rise to $1.45 where 200 SMA will act as resistance, a break through above 200 SMA will lead price to $1.80 which is a 40% increase.

Read: Michael Saylor “Bitcoin Is Digital Real Estate

ADA rose $1.39 after finding support at $1.18 a few days earlier. Despite sharp fluctuations, Cardano’s prices remained within trading range of $1.25 to $1.30.

Current positive sentiments can be because of recent Yoroi Wallet Release of Dapp Connector That Allows Interactions Between Users And Dapps On Cardano Blockchain. (Read More)

The ADA/USD pair is poised for further growth.

Cardano’s 12-hour chart shows that price is in a familiar range with losses being supported by the 50-simple moving Average (SMA), at $1.25.

Read: 57,000 Bitcoin Left Crypto Exchanges In 24 Hours Showing Bullish Sentiments

ADA bulls are still finding resistance from 100 SMA at 1.31.

ada analysis 31-7-21

A breakout from the current range is possible, with greater odds of an upside breakout, amid a bullish cross in the indicated timeframe. The 21-SMA is poised to cross the 50-SMA higher to the upside, which will confirm a bullish cross.

Although the Relative Strength Index (RSI) remains well above 50.00. This adds confidence in a possible advance.

The close of the 12-hour candle over the 100-SMA may trigger a new rally towards the July 26 high at $1.40.

Further up, bulls will attempt to reclaim the horizontal 200-SMA for $1.45.

Once the 1.40 to 1.45 strong resistance is crossed ADA bulls can easily march towards $1.80 which is a 40% increase.

Read: PayPal CEO, Paypal Crypto Super App Is Code Complete And Will Launch Soon

If ADA bears take control 21 SMA and 50 SMA can act as support present at $1.24 and $1.27 respectively.

Overall, Cardano’s price seems to be on the path of least resistance with potential upsides.

- Advertisement -
Albert Brown
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

El Salvador Chivo Bitcoin Wallet Has Surpassed 500,000 Users

local news reports El Salvador's Chivo bitcoin wallet has already surpassed 500,000 users. window.coinzilla_display = window.coinzilla_display...

Amasa Announces Dual IDO on Trustpad and Chainboost on September 28

Sydney, Australia, 16th September, 2021, Amasa will collaborate with Genesis Shards for a pre-IDO NFT release on September 23. Amasa is thrilled to announce its...

Coinbase Filled An Application with National Futures Association (NFA) To Start Offering Crypto Futures Trading

The cryptocurrency exchange Coinbase is now venturing into cryptocurrency derivatives. window.coinzilla_display = window.coinzilla_display || ; ...

Time Magazine Named Ethereum Co-Founder, Vitalik Buterin As One Of The Most Influential People Of 2021

Time magazine named Ethereum co-founder, Vitalik Buterin as one of the most influential people this year, along with musicians, world leaders, activists and others.

AMC, The Biggest Cinema Chain Worldwide With 1004 Theaters, 11,041 Screens To Start Accepting Ethereum, Bitcoin Cash And Litecoin

AMC CEO, Adam Aron has taken to Twitter to announce that the largest US theater chain will begin accepting Ethereum, Litecoin, and Bitcoin Cash...

TRON And BitTorrent Launch BTTC

San Francisco, California, 15th September, 2021, TRON, one of the world's largest and most popular blockchain-based operating systems, and BitTorrent, the leader in peer-to-peer...

Cardano Alonzo Mainnet Goes Live As Cardano Now Has Smart Contracts Capabilities

Cardano Alonzo upgrade is now live on the mainnet. Read: In Last 3 Months Cardano Adds Over 200,000 New Staking Addresses ...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.