Price Analysis

Is it the Time to Buy Again, Cardano Price Letting Out Bullish Signals!

Written by: Sahana Vibhute

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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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Jan 4, 2022

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Highlights

    Cardano price is attempting a flip from the local support levels, yet remains a little distinct from the immediate resistance levels

    The traders often complain about the lack of price variation with Cardano, but the asset is been built with pretty strong fundamentals that may impact the price in future

Cardano is always in the news as the ADA price prediction remained a hot topic in the crypto space. While some believe the future of the asset is pretty blank, many believe in the development methodology of Cardano that may induce immense value in the project. The platform is getting ready to be home for many applications and also a series of upgrades are scheduled throughout the year 2022. 

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Cardano (ADA) Price Analysis

Yet in the short-term, ADA price is yet again attempting to climb the mountain that it slided down during the previous trading day. However, it appears that the asset is ranging high to reach the immediate resistance, yet sellers also appear to be pretty strong. Hence keeping the asset swinging within pivot levels. 

  • The ADA price is currently attempting to break through the descending triangle, yet is a little distinct 
  • If the current uptrend continues, then the asset may surpass the upper levels of the triangle to attain the local resistance at $1.378. However, by then the buyers may have got exhausted and yet again a small pullback could be in place. 
  • On the contrary, if the price fails to break through the triangle, then it may witness an interim decline by barging through the support levels just below $1.3. However, it may flip the trend much before the price hits the strong support levels at $1.2.
  • In both the cases, the Cardano price appears to be pre-programmed to rise a level up than the current consolidation zone
  • Yet the uptrend may not be confirmed until the price does not firmly reside over $1.47 pivot levels.

The crypto marketplace is leaving no stones unturned in order to flip the bearish trend. And hence many altcoins including Cardano price are on the verge to eliminate the bearish trend at the earliest. On the contrary, the sellers may not be completely vanish as they also may try their level best to keep the price under the resistance levels. 

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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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