Altcoins

The Next Big Thing Incoming For Cardano(ADA) Price is Set in Place

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Dec 17, 2021

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Highlights

    Cardano price is rallying towards the north yet again but ADA price still remain below the $1.3 levels

    ADA price is buckling up but the target is still pretty much distinct and hence reaching the targets appears a tedious job

The entire crypto space is undergoing an extreme roller coaster ride currently. The most thrilling rally is of Bitcoin, which is getting rejected again and again close to $50K. And hence the altcoins are also acting accordingly. Ever since BTC price was coiling up towards $50K, other altcoins also followed a notable bullish momentum in no time. And hence the assets like Cardano(ADA)  maintained a silent rally appear to have chosen the upward trajectory.

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The Cardano price is trending within a descending channel for the past month. It has constantly attempted to slice through the levels but failed. However, the ADA price is yet again repeating its attempt once again and it’s pretty clear that the asset may be successful. Cardano is setting the plot for the past couple of days and slowly coiling up towards the upper resistance levels. 

Also Read: Bulls to Takeover Ethereum Rally, Will ETH Price Barge-In $5000 Before EOY?

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The ADA price is currently moving slowly yet steadily and consolidating in a smaller time frame. The more the asset consolidates, the larger chance of the asset to coil towards its strong resistance area above $2. The selling volume is currently higher compared to that of the buying and hence the price lags the boost required to barge in these levels. However, the asset is expected to maintain the lowered pace and eventually maintain a substantial uptrend for the next couple of days. 

Collectively, Cardano price is gearing up slowly similar to that of Ethereum in order to showcase a slow yet steady rally. And therefore, the resistance despite being pretty much distinct could be attained very soon.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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