ADA/USD Moves Bullishly as Price Hovers Around $0.363

The Cardano price prediction reveals that ADA has been following the bearish movement as the coin now appears to face a bullish run.

Cardano Prediction Statistics Data:

• Cardano price now – $0.363
• Cardano market cap – $12.4 billion
• Cardano circulating supply – 34.3 billion
• Cardano total supply – 35 billion
• Cardano Coinmarketcap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.450, $0.470, $0.490

Support levels: $0.300, $0.280, $0.260

ADA/USD has seen a small increase of around 0.28% during the European session today; it is currently trading at $0.363 above the 9-day moving average but has yet to get to the 21-day moving average. For the past few weeks, the Cardano price experiences hard times crossing above the 9-day MA as the previous attempts so far have failed. Despite this, ADA/USD is still making an effect to head toward the upper boundary of the channel.

Cardano Price Prediction: Where Could ADA Price Go Next?

Since the past few days, the Cardano price has remained relatively strong as the coin begins the journey to the upside gradually. At the same time, the movement to a downward trend has been cut short as revealed by the technical indicator. In the early hours of today, the Cardano price touches the low of $0.355 but still maintains the bullish movement. Therefore, bulls had already taken the price up to $0.365 before the bears step back and took it down.

Moreover, a significant cross above the upper boundary of the channel could sustain the bulls to a $0.400 high. Meanwhile, if ADA manages to surge above this level, it may see the resistance levels at $0.450, $0.470, and $0.490, while a bearish drop may take the price to the support levels of $0.300, $0.280, and $0.260. But, the Relative Strength Index (14) indicator could show some bullish signals if crosses above the 40-level.

Against Bitcoin, before this time, the market price has been moving bearishly and trading below the 9-day and 21-day moving averages. For now, ADA/BTC is trading at 1869 SAT and expecting a break above the 9-day moving average. Mere looking at the daily chart, the bulls are now struggling to push the market price toward the north.

However, if the market drops below the lower boundary of the channel, the next key support may come at 1600 SAT and below. On the bullish side, a possible rise could push the market above the 21-day moving average to hit the resistance level of 2200 SAT and above as the technical indicator Relative Strength Index (14) recovers from the oversold region, which could trigger more bullish signals in the market soon.

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