Cardano in a major uptrend as it aims for $1.4: Should you buy ADA now?

Cardano in a major uptrend as it aims for $1.4: Should you buy ADA now?
фото показано с : invezz.com

2021-2-10 22:15

Cardano (ADA) was on an upward swing since Friday, with its price gaining over 60% in just five days. What’s the reason behind the current price increase, and should you buy some ADA now?

Fundamental analysis: Smart Contract viability increased Cardano’s positive outlook

The fifth-largest cryptocurrency by market capitalization managed to post such tremendous gains due to its fundamental improvements, mainly its announcement of the Smart Contract launch on the Cardano testnet. On top of that, Cardano’s market position as the most decentralized cryptocurrency, as well as its future prospect in terms of Smart Contract creation and Smart Contract transfers from Ethereum to Cardano network seem incredibly bullish.

Cardano posted week-over-week gains of 55.80%, outperforming both Bitcoin’s 35.05% gain and Ethereum‘s %18.86 gain. The fifth-largest cryptocurrency by market cap currently boasts a market value of $21.16 billion.

At the time of writing, ADA is trading for $0.685, which represents a price increase of 85.58% when compared to the previous month’s value.

ADA/USD technical analysis: Cardano poised to reach its $1.4 all-time highs?

The fifth-largest cryptocurrency by market cap is still in its uptrend, and if the bulls continue to post higher highs on heavy volume, ADA might reach as high as $1.4. In the meantime, its main resistance is the $0.7265 recent high as well as the area around $0.8.

Cardano’s current move seems very overextended and unhealthy, and many technical analysts are calling for a pullback. However, Cardano’s network upgrades and its long-term perspective might prove them wrong. Ultimately, traders will need to watch for volume rather than the price action, as the only way ADA will stop moving up is if bears reach exhaustion.

ADA/USD daily chart

ADA’s RSI on the daily time-frame has pushed into the overbought territory, and is currently deep into it. Its current value is sitting at 84.67.

ADA/USD 1-hour chart

Zooming in to the hourly time-frame, we can see ADA’s volume descent as time passed (though its volume is still incredibly high compared to its pre-surge levels). The cryptocurrency seems to be very careful around the 21-hour EMA, while the 50-hour EMA provides strong support.

ADA’s current uptrend will be put into question if the cryptocurrency breaks the 50-hour EMA. In that case, traders may expect a pullback to the $0.6 area and a retest of the 23.6% Fib retracement level.

The post Cardano in a major uptrend as it aims for $1.4: Should you buy ADA now? appeared first on Invezz.

origin »

Cardano (ADA) на Currencies.ru

$ 0.7547 (+0.27%)
Объем 24H $904.213m
Изменеия 24h: -6.33 %, 7d: -3.69 %
Cегодня L: $0.7432 - H: $0.7563
Капитализация $26.568b Rank 9
Цена в час новости $ 0.8468 (-10.88%)

cardano ada buy should price uptrend aims

cardano ada → Результатов: 126


Трейдеры избавляются от Cardano

В последние недели Cardano (ADA) находится под значительным давлением продаж. Из-за этого альткоин рискует потерять поддержку на уровне $1 и откатиться ниже. Разбираемся, почему игроки рынка избавляются от Cardano (ADA) и как это скажется на цене криптовалюты.

2024-12-18 20:55


Whales Bet Big on Cardano Amid Major Partnerships: Where Is ADA Price Headed Next?

Cardano (ADA) has continued its consistent development and strategic collaborations. With its research-driven approach, it is establishing itself in decentralized finance (DeFi).   Analyst Dan Gambardello, in a YouTube video, provided insights into Cardano’s evolving fundamentals and potential market trajectory, while analyst @ali_charts highlighted notable whale activity surrounding ADA.

2024-11-20 16:30


Cardano взлетает с 25%-ным приростом — вскоре может последовать FOMO у розничных продавцов

Cardano (ADA) стал одним из выдающихся альткоинов в недавнем ралли криптовалютного рынка, поднявшись более чем на 25% за последние три дня, согласно данным Santiment. Этот восходящий импульс привел к тому, что Cardano впервые с июля преодолел отметку в 0,43 доллара, чему способствовали значительные транзакции китов и повышенная активность сети.

2024-11-8 17:51