NewsPrice Analysis

Cardano, Elrond Price Surge, Move Upwards Without Weak Hands!


The crypto market yet again offered the ‘buy at the dip’ opportunity as most of the crypto assets including Bitcoin and Ethereum plunged heavily in the last working day. Yet since the early trading hours, the significant coins recovered from the losses as BTC price traded an inch close to the milestone of $50K.

The global market capitalization stands more than $1.5 trillion and the market cap of Bitcoin alone is heading towards $1 trillion. Among the top gainers who adopted the uptrend following the market trend are Cardano, Elrond and Reef. 

Cardano(ADA) Price Surges Close to 5%

As Coinpedia reported earlier on the probable ADA price movement, the price surges accordingly. The Cardano price appears to be in a consolidation phase after a major rally from the levels below $0.1 to the current levels around $0.8.

The road to $1 per ADA seems to be imminent as the price that fell more than 20% recovered notably indicating the presence of more strong hands. Moreover, the fundamentals of ADA are so strong, due to which the price is expected to rally more than 10 times.

ADA price

At the time of writing the ADA price is $0.8836 with a jump of nearly 4.04% in the last 24 hours. 

Technical Specifications

  • The initial resistance is formed at $0.9147 and later close to $1 at $0.9828
  • The support levels are formed at $0.8538
  • The indicators point out towards a ‘strong buy’ 

Elrond (EGLD) Price Jumps More than 5%

Elrond price has dipped miserably below $100 in the early trading hours of the past working day, however, the price surpassed the $150 levels before the daily close. The new trading day began with a large green candle touching the levels close to $170.

EGLD price

The price, however, dipped slightly and settled within the current levels around $140. At the time of writing, the EGLD price is $142.04 with a jump of nearly 7.38% in the last 24 hours, which is expected to spike more.

Technical Specifications

  • The resistance levels are formed a $167
  • The support levels are formed at $123
  • The indicators point out towards a ‘buy’ signal
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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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