Price Analysis

Cardano Price To Offer A Buy Signal Soon, Good Time To Stack Up!

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Highlights

    Cardano price nears decisive phase, where-in a notable bounce may lead the price above $1.5

    The price broke from the downtrend recently and is on the verge to revisit these levels again

Cardano price is on the verge to undergo a significant breakout as the price is approaching very crucial levels. The ADA price that successfully sustained above $1 during a couple of crashes is all set to signal a buy very soon. And hence the upcoming dip may be a short-lived one as a notable uptrend may follow soon.

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The price was following a downtrend since the mid of June and after a couple of failed attempts, broke the trend line. Since then the price traded above the levels for quite a long time, until a slight pullback dragged the price close to the trend line. Yet a successful bounce rallied the price above, however, the price is heading towards the line yet again.

Also Read: Cardano Price on a Downtrend! ADA Could Skyrocket If It Replicates 2020 Price Action

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The price could revisit the trend line around $1.19 yet again and could either jump to the higher levels or yet again break the trend line. In case of a plunge, it may get back close to $1.12 support levels as it resides currently on strong support levels of $1.21.

However, the plunge may be still much distinct as the price is believed to propel before it even hits the line. As per a popular analyst, Atlas Trades, the ADA price could offer a buy signal. Moreover, Cardano is consolidating close to the nearest support levels. The analyst predicts the significant jump from these levels could uplift the Cardano price close to $1.5 levels. 

Also Read: Top Reasons Why XRP Price Could Ignite To New Highs Very Soon!

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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.

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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