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Cardano Price Prediction: ADA/USD Consolidates Gain Above $1.35 Level

Published on

June 29, 2021

Cardano Price Prediction – June 29

The Cardano price draws a probable uptrend as it trades at $1.38 and appears bullish as it is continuously spiked from the trading price of $1.32.

ADA/USD Market

Key Levels:
Resistance levels: $1.70, $1.80, $1.90
Support levels: $1.05, $0.95, $0.85

According to the daily chart, ADA/USD is facing a bit of price pullback as the market opens today. The technical indicator Relative Strength Index (14) is moving towards the bullish phase already as the signal line moves to cross above 50-level. However, if the Cardano price path slips below the 9-day moving average, a bearish price move may be anticipated.

Cardano Price Prediction: Will Cardano Overturn Downward Pressure?

As reveals by the daily chart, the Cardano price begins a strong rebound journey a few days ago and at the time of writing; the coin is moving towards the 21-day moving average to cross above the upper boundary of the channel. However, if this worked out, it could probably reach as high as $1.50 from the opening price of $1.32.

Moreover, if ADA/USD decides to stay under the control of bears, the market price may likely drop to the nearest supports at $1.05, $0.95, and $0.85. Looking at the upside, the bulls need to push the coin above the 21-day moving average to reach the potential resistance at $1.70, $1.80, and $1.90 levels.

When compares with Bitcoin, the Cardano price is seen hovering within the 9-day and 21-day moving averages where the price is expected to break below the 9-day moving average. However, should the market price cross below the lower boundary of the channel, it could experience additional downward trends that may touch the nearest support level at 3200 SAT and below.

Nevertheless, if the bulls could push the market towards the north, the Cardano price may likely cross above the 21-day moving average, ADA/BTC may reach the resistance levels of 4500 SAT and 4700 SAT respectively. Moreover, the technical indicator Relative Strength Index (14) confirms that the market may continue to follow the sideways movement as the signal line keeps moving in the same direction below 50-level.

Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : June 29, 2021

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