- Cardano Recovers Briefly Against The USD Reaching for the Support at $0.0345
- Higher Highs Against the USD Will Allow the Token Hit $0.0390 Level Before the End of the Day
Cardano Price Prediction – After trading in the bearish territory for nearly two days, the price of Cardano ADA finally started to gain momentum against the USD toward the end of trading yesterday. The token to move above the $0.0339 resistance level. At the time of writing, the resistance was at $0.0345 and the token was still rising toward it. Since the beginning of the day, the Cardano ADA token has been surging with the same intensity as it did last night. The upside movement will most likely continue for the rest of the day.
Cardano ADA Price Prediction – Cardano ADA Recovers Against the USD Crossing Key Resistance Levels
In our last Cardano news, we talked about how the price of the Cardano ADA token was holding strong support at the $0.031 level. We noted that if the token maintained this support, there would be hope for higher highs. This is exactly what happened yesterday. When the price of Cardano ADA touched $0.0331, the bulls gained momentum and the token started to rise against the USD. ADA crossed the resistance at $0.0326 just 30 minutes after rising above $0.0331.
About 3 hours after the price of the token crossed the $0.0326 level, the token faced a rejection. Shortly after, it faced rejection and fell lower against the USD but it maintained the support at $0.0310. Six hours later, the price of the token surged as high as $0.0330 and found support. This was followed by another rejection before the token surged again reaching the $0.342 level and then going back to the $0.03392 level.
The 20-day moving average is at $0.03380 and the 50-day moving average is at $0.03388. These levels are acting as support protecting the token from lower lows. ADA has moved across the close resistance at $0.0343 and will most likely move higher within the next few hours if the bulls maintain the upward price movement.
Cardano (ADA) Price Today – ADA / USD
At the time of writing, the price of the token was $0.034493. It was up by 2.69% against the USD and up by 1.28% against the price of Bitcoin BTC. The trading volume over a 24 hour period is $83,344,700 and the market capitalization is $894,304,101. It is far from last week’s high of $0.03700 but it’s a good start. The next few hours of trading will determine if the bulls will maintain their hold in the market.