The crypto space is bleeding as the majority of the assets undergo a massive sell-off resulting in a huge plunge
Cardano price also slashed below $1, yet failed to break the lower resistance levels and hence a major breakout may be imminent
Cardano Price May surge high!
Cardano price recently attained the most awaited milestone by surging above $1.33 and successfully ATH. Despite the major crash in the market, Cardano is now in the top 3 cryptocurrencies in terms of market capitalization.
At the time of writing, ADA has a market cap of $39.6 billion, almost $4.5 billion more than BNB, which now has $35.1 billion.
The ADA price according to an analyst, TOP AIM STOCKS, is about to smash the upper resistance levels shortly.
As per the chart posted by the analyst, the ADA price is trending within an ascending triangle since the price hit $1.The price touched the lower resistance levels multiple times, yet failed to break the levels and hence discarded the bearish divergence.
The price appears to have consolidated from the past several days, and hence a big breakout appears to be imminent.
ADA price analysis
At press time, Cardano price is $1.32 USD with a 24-hour trading volume of $15,808,257,629 USD. The token is up 21.41% in the last 24 hours. The current CoinMarketCap ranking is #3, with a live market cap of $41,164,646,239 USD. It has a circulating supply of 31,112,484,646
ADA cleared the resistance of the previous yearly high of $1.21 to surge higher.
Further, the ADA/USD pair may gain momentum to $1.50 and $1.70. overall, The ADA/USD pair stays bullish while trading above the $1.02 mark and MA 50 zone.
- The resistance levels are formed at the yearly highs above $1.50
- The support levels are formed at $1.02
- The indicators for the Cardano price points out a Bullish trend.