ADA Trades Above $0.45 Level

The Cardano price prediction reveals that the ADA price is likely to cross above the moving averages to continue the bullish movement.

Cardano Prediction Statistics Data:

• Cardano price now – $0.46
• Cardano market cap – $15.9 billion
• Cardano circulating supply – 33.7 billion
• Cardano total supply – 34.2 billion
• Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.70, $0.75, $0.80

Support levels: $0.25, $0.20, $0.15

ADA/USD is changing hands at $0.46 after the price dropped off a few days ago, and consolidating within the channel. The ADA price not crossing above the moving averages ruins the long-term technical picture of the coin. However, Cardano will have to focus on the bullish movement to guide against the downward pressure, while the closest support expects the coin at $0.40, which could be the daily low.

Cardano Price Prediction: The Cardano May Move Upward

The Cardano price regains back towards the 9-day moving average because any movement to the downside may bring the coin to the support levels of $0.25, $0.20, and $0.15. However, ADA/USD is trading at $0.46, and still moving sideways. On the upside, a sustained move above the 21-day moving average may cross above the upper boundary of the channel to hit the next resistance levels of $0.70, $0.75, and $0.80 respectively.

At the moment, the technical indicator Relative Strength Index (14) remains above 40-level, which indicates that the market may shoot to the upside. Looking at the daily chart, there may be a need for support to be formed at around $0.45 to provide tight protection which could allow the buyers to concentrate on stirring action to the north.

When compared with Bitcoin, the Cardano price is hovering within the 9-day and 21-day moving averages as the sellers aim to bring the price to the downside and could fall towards the lower boundary of the channel, while the technical indicator Relative Strength Index (14) moves to cross below 60-level.

However, if the bulls succeeded in breaking above the upper boundary of the channel, the ADA price may likely hit the potential resistance level at 2800 SAT and above. On the contrary, the continuation of the bearish movement could bring the price to the support level of 1900 SAT and below.

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