Price Analysis

ADA Price Analysis – Is Cardano Price Poised For Minor Pull Back Before Hitting ATH !

Written by: Haripriya Sureban

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Haripriya Sureban

A writer and a Crypto fanatic exploring the DeFi Space. Staying abreast on all the crypto trends and trivia is my forte. For the rest I nerd out on movies and series.

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Aug 11, 2021

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Cardano price has climbed 20.54% to $1.77 in the last 24 hours. This maintains its upward trajectory from the previous week when it gained 16.0% moving from $1.35 to its current level.

ADA price initially denied further higher, resulting in a weekend retreat back to the $1.40 barrier. However, the market price rapidly recovered and attempted to break through the $1.50 barrier again yesterday.

Cardano price suddenly soared up earlier today after a temporary failure to go higher overnight and quickly pushed to the $1.60 resistance next. This uptrend suggests that bulls are still in charge, and more gains can be expected later this week.

ADA Price Analysis

Since ADA/USD BEARISH  formation was invalidated, we may retest the prior ATH and may not look back again.

The coin’s trading volume has increased by 68.0 percent in the last week, despite the fact that the circulating supply has declined by 0.39 percent. Meanwhile, the total market capitalization of the cryptocurrency is over $50 billion, putting it in the fifth position globally.

Cardano Smart Contracts Launch Date To Be Out On 13 August, Will It Fuel ADA price?

The uptrend pushed ADA from $1.40 to $1.79 but failed to retest the $1.82 resistance level. However, if this move was successful, it will open the path to $2.

ADA to surge higher!

Making a Bullish case for ADA are popular analysts Rekt Capital and Peter Brandt.

Rekt Capital on Twitter says ADA is set to range towards $1.60 – $1.70 area soon.

Chiming in is the CEO of Factor LLC, Peter Brandt. The analyst says, since ADA has achieved a break above the July 4 high, it has validated a bullish trend. If the crypto manages to stay above $1.25 a rally is definite.

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Haripriya Sureban

A writer and a Crypto fanatic exploring the DeFi Space. Staying abreast on all the crypto trends and trivia is my forte. For the rest I nerd out on movies and series.

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