Cardano (ADA) has been on the accumulation phase from quite a period of time, almost a month now to be exact. Its current value stands at 2.179 USD and is struggling to cross pass 2.36 USD mark which is the first resistance and will definitely be a breakout point and bullish rally may start again. For long term uptrend and sustenance, it has a strong resistance point of 3.1 USD. Here is the current price of ADA while comparing with different base currencies.
Fiat - $2.18
BTC - 0.00003453
ETH - 0.0005247
Here are the latest charts as taken from Binance platform.
ADA/USD Chart
From the chart it is clear that the crypto is in the accumulation phase while trading between strong support and resistance points of $2 and $3 respectively. It has the capacity to get to $4 price point once breaks its resistance point of $3.
Here is ADA/BTC latest chart from Binance.
Main trading indicators RSI and MACD both are positioned in a good point and are a good indication of bullish price trend in the future. I am hopeful that ADA will keep on moving till $5 as its first target in long term and 2nd target may be &7 to $10 to be more.optimistic but it will definitely take time and is dependent on new projects in the ADA blockchain.
Hope we will have a good investment opportunity in ADA.
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Disclaimer: I am not a financial advisor and the purpose of the post is just for the information. Final decision is the investors' themselves.
Regards,
