Cardano Price Prediction: ADA Could See A Bounce
There are all kinds of bullish predictions these days for a few digital assets, and it seems that Cardano’s ADA is one of them.
At the moment of writing this article, ADA is trading in the red just like lots of other coins because the crypto market looks pretty bloody today.
Now, ADA is priced at $0.104381, and the coin is positioned on the 9th place on CMC.
ADA’s market cap is on the rise
The total market cap of the coin managed to gain about $500 million since the past week.
It seems that the digital asset is also showing some bullish signs again following a period of a healthy consolidation.
FXStreet notes: “The digital asset has already confirmed a daily uptrend after establishing a higher low at $0.0893 compared to the last low at $0.0828. ADA also created three higher highs and turned the 50-SMA into a support level on October 9.”
The same online publication also noted that the MACD is bullish since the past month, and it continues to strengthen.
The trading volume also seems to be increasing on Binance on bullish moves, and it decreases during the consolidation periods.
Check out the complete analysis in order to see some vital price levels for ADA.
Cardano just issues a new scam warning
Cardano has always been waning users about online scams and all kinds of fake giveaways.
Now, the team behind the project made sure to release another such warning for YouTube users.
Check out the message that the team dropped on their social media account:
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
Stay tuned for more news about Cardano and ADA.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
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.