Cardano price in recent times has displayed a very consolidated trend which is trending within range-bound levels. The asset has also become pretty less volatile as no serious strife is witnessed between the bulls and the bears. However, with the recent flip from the middle bands, the ADA price maintained a notable swinging within the upper bands. And hence manifest a notable upswing.
Yet the current lowered pace and strength has let off notable volume off the asset. Therefore the ADA price appears to be pretty confused with the next price trend. However, despite the clouds of uncertainty hovering above Cardano, this may be when the asset may jump 20% to hit the $1.
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The founder of cryptocapitalventure.io, a leading recruiting firm in the crypto space, Blockchain & AI space, Dan Gambardello lets down a possible scenario where the asset may kick back to hit $1 again. As per the analysts, the ADA price has formed a notable inverse head and shoulder pattern which is testing the neckline at $0.88. Once these levels are tested and cleared, then a notable jump may boost the price may hit $1 very soon.
Interestingly, the MACD in HTF is letting out a notable bullish signal as the selling volume has eased considerably. On the other hand, the RSI also bounced off from the lower support and slowly rose towards the north. And hence a notable uptrend may be fast approaching for the Cardano(ADA) price throughout the week.
Source: https://coinpedia.org/price-analysis/this-may-be-when-cardano-ada-price-may-breakout-above-1/