The current state of affairs across the crypto market is hidden bearish divergence across numerous assets, and Cardano is no exception. ADA price is now trading at $1.34648. (1.614 percent in the past 24 hours). The altcoin price began the week on a positive uptrend, gaining more than 5% on June 28, but the bulls were unable to maintain their gains toward a higher target.
Cardano has attracted a lot of attention due to its blockchain utility capabilities. In addition, the network is bolstering investor trust by releasing new programming. In early June, ADA’s total staking wallets passed the 650,000 mark, with over 2,600 active pools.
Cardano is also gaining popularity because of the network’s expected continuing development. The platform has stated that it is investigating the potential of ‘Stablefees.’
Where is ADA Price Heading Next?
The bulls managed to turn the $1.2 price resistance into firm support at the weekly opening, which was a significant achievement. A 16 percent rise might follow, putting the price at $1.40 for the first time. However, if the price rises over that level, it may be possible to hit $1.47.
If the bulls can break through the $1.40 resistance, ADA might reach $1.60. The cryptocurrency will emerge from the bearish trend zone if the bulls maintain the $1.60 price level high. The increasing trend is anticipated to continue. It’s probable that the price will rise above $1.80.
In reality, they are aiming for $1.9 as their last target, but yesterday’s rise was shattered by significant seller volumes.
The price of ADA has recently dropped to a low of $1.34. ADA will fall to a low of $1.0 if the bears decrease the price below this level.