Cardano Price Prediction: ADA Bullish Wave Ahead
In the past month, Cardano (ADA)’s price started a new increase from the $0.0755 low. ADA was then able to clear the $0.0880, and the $0.0950 resistance levels, and the coin managed to move into a positive zone.
ADA’s price in the crypto market
NewsBTC noted that “The upward move gained pace after there was a break above a significant bearish trend line with resistance near $0.0965 on the daily chart of the ADA/USD pair. There was also a break above the 50% Fib retracement level of the key decline from the $0.1280 high to $0.0755 low.”
The online publication continued and said: “Cardano cleared the $0.1120 resistance and trading above the 100-day simple moving average. Immediate resistance is near the $0.1155 level. It is close to the 76.4% Fib retracement level of the key decline from the $0.1280 high to $0.0755 low.”
It’s been also revealed that a successful close above the $0.1155 level could be able to clear the path for more upsides towards the $0.1250 level of resistance.
Check out the complete original article to see more of their predictions.
At the moment of writing this article, ADA is trading int he red just like the other important coins today.
Now, ADA is priced at $0.109947, and the digital asset is down by more than 2% in the past 24 hours.
Cardano in the news
In other recent news, Cardano made headlines for more reasons.
For starters, the team behind the project made sure to release a warning for YouTube users, saying that a fake video featuring Charles Hoskinson and a giveaway is lurking online.
Please note there is currently a scam going on Youtube with a video clip of Charles as a live AMA offering free ada. Please note, this is fake and is not from IOHK or the Cardano Foundation.https://t.co/9moCo2kQeZ
— Cardano Foundation (@CardanoStiftung) October 13, 2020
In other news, Cardano marked a new achievement.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.