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Cardano Price Surged and Flipped Polkadot to Enter the Top 5

Highlights

    Bearish divergence haunts the DOT price that led to a slip in a position in the cryptocurrency ranking list

    Cardano price followed a bullish trend by surging nearly 5% to gain the fifth position for on the cryptocurrency ranking list

Cardano Price All-Set for a Major Breakout

Cardano price is consolidating from the past couple of days and hence manifesting a possibility of a major breakout. The consolidation comes-in post a price plunge after the price smashed $1 for the first time since 2018.

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Currently, it appears that the ADA price is done with enough of consolidation and a major breakout is imminent. The price is trending within an ascending triangle and hence a spike can lead to smash the yearly highs shortly. 

ada price triangle

As cardano price showcases great bull run vibes, it can eventually flip Tether’s position to secure the fourth place too. At the time of writing the ADA price is $1.04 with a jump of 4.72% in the last 24-hours with a market capitalization of $32,060,485,882. However, the market capitalization of Tether is $34 ,912,627,193 and hence, Cardano may take over the stablecoin soon.

Bearish Divergence Haunts Polkadot Price

Polkadot price and Cardano manifested an extreme bullish trend and entered the top 5 together a couple of days before, driving XRP’s position down. However, Binance Coin emerged suddenly and secured comfortably on the third position.

Showcasing the initiation of a Polkadot Season, DOT price appears to trend within a narrow trend. The trend might continue for some more time before a major breakout that could lead the price to the higher levels around the ATH. 

dot price trend

Currently at the time of writing, the DOT price is $33.55 with a dip of nearly 5.07% in the last 24-hours after a jump of 3.985 in the last 7 days. The price appears to be poised to smash the upper barriers at $35.27. 

Once the DOT price smashes the upper barriers, then the next resistance levels are formed at $37 and finally smash the ATH above $42. Collectively, DOT price appears to have entered the consolidation phase and hence a breakout is imminent. On the other hand, Cardano price rally is expected to accelerate to form a new ATH above $1.3 shortly.

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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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