Cardano (ADA), After 35% Spike, Locks On Next Target: $0.55

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	93,002,017,840	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Binance Coin

BNBUSD

Crypto

93,002,017,840

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-2.61	-0.44%	589.19	589.19	590.83

Price Change

Price Change %

Current Price

Bid Price

Offer

-2.61

-0.44%

589.19

590.83

High Price	Low Price	Open Price	Prev. Close	52 Week Range
598.27	559.19	561.15	591.80	210.00 - 683.83

High Price

Low Price

Open Price

Prev. Close

52 Week Range

598.27

559.19

561.15

591.80

210.00 - 683.83

Exchange	Last Trade	Size	Trade Price	Currency
BINA	20:42:56	0.112000	589.19	USD

Exchange

Last Trade

Size

Trade Price

Currency

BINA

20:42:56

0.112000

589.19

USD

Price x Volume	Volume	Base Symbol	Related Pairs
16,881,117.65	28,975.92	BNB	BNBEUR	BNBGBP	BNBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

16,881,117.65

28,975.92

Cardano (ADA), After 35% Spike, Locks On Next Target: $0.55

21/07/2022 1:18pm

NEWSBTC

It’s no surprise that Cardano has been gaining traction on price. ADA spiked by as much as 35% in a little over than a week with price trend going the same route as last week’s forecasts. If you have been holding and trading Cardano for the longest time then the past couple of weeks have predictably been a great rollercoaster ride. When Bitcoin showed new spark of vigor starting July 19, Cardano was warned of a bearish trend and a potential liquidity happening in the $0.40 range. ADA dipped by 12% which worked towards the bears. However, the bearish momentum is perceived to be otherwise short-lived as it failed to hold it at the $0.40 zone. ADA price did overshoot to $0.54 with $0.40 tagged as support zone. Suggested Reading | Binance Coin Trading Volume Up 35% As BNB Spikes To $274 Image: Finder.com Cardano Rolls With The Books Cardano definitely rolled according to the books. The token is currently trading at $0.50, up 11% in the last seven days, data from Coingecko show, Thursday. ADA price is seeing two types of scenarios. One, its price may drop from $0.52 to just $0.35 region, or its price may go up to around the $0.65 zone. For those who are looking for higher targets, there is an uptrend signal which reveals a breach right below $0.472. The crypto was recently able to break past the resistance level of $0.45 and is now going for a higher high. In fact, there are strong technical indicators signifying that ADA can go shoot as high as 51% if it keeps up its steady rally. ADA appears to be gaining bullish momentum after overcoming a significant supply wall. Technical indicators suggest that as long as ADA continues trading above $0.50 it may have the potential to advance further. Suggested Reading | Dogecoin Shows Signs Of Vigor – DOGE Target Of $0.075 Within Range ADA total market cap at $16.4 billion on the daily chart | Source: TradingView.com Cardano Breaches $0.45 Levels, Targets Higher High ADA has been increasingly bullish as it was able to break the resistance level signaling a new uptrend forecast. After succumbing to a tedious consolidation period spanning three months, ADA’s price is now enjoying a 23% increase. The uptrend was brought about by Cardano recently overriding the $0.45 resistance level. Additionally, intensified buying pressure can push ADA prices higher as the support zone or level gets breached. The token had managed to break away from the descending triangle based on its 12-hour chart and is seen to increase to around 51% following its successful breach at the $0.45 zone. Once this is done, it could push for an uptrend targeting $0.70. However, in order to aim and shoot for higher highs, ADA should be able to hold it at the level of $0.50. If it fails to hold it at that range, it could be seen as a weak spot which could trigger mass selloff. If this happens, ADA may slide down to $0.45 or could even dangerously drop to $0.38. Featured image from Daily Bruin, chart from TradingView.com

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BNBUSD Binance Coin