The Cardano price prediction may miss in the short term, but if the price rises, the coin should soon face moderate volatility in the market.
Cardano prediction statistical data:
- Cardano price now – $0.52
- Cardano market capitalization – $17.8 billion
- Cardano circulating supply – 33.8 billion
- Cardano total supply – 34.2 billion
- Cardano Coinmarketcap Ranking – #8
Resistance levels: $0.85, $0.90, $0.95
Support Levels: $0.20, $0.15, $0.10
ADA/USD is currently trading around the $0.52 level below the 9-day and 21-day moving averages. In the range of the descending channel, the closest support lies at $0.50, with nearby resistance at $0.55. Meanwhile, if the market is rising, additional resistance can be found above the 9-day and 21-day moving averages.
Cardano Price Prediction: Cardano (ADA) May Turn Bullish
From the daily chart, it is evident that the price of Cardano may create more bullish trends once the sideways movement fades, and this is noticeable for the technical indicator Relative Strength Index (14) as the signal line may clear level 40. . For the past few days, Cardano (ADA) has been moving in the same direction as the market ranges.
Currently, the market is trading $0.52 below the 9-day and 21-day moving averages, but any bearish moves below the daily low of $0.50 could trigger a serious downtrend. However, the support levels of the coin could be found at $0.20, $0.15 and $0.10 while the resistance levels are found at $0.85, $0.90 and 0 respectively, $95.
ADA/BTC Market: The Price Facing Down
Compared to Bitcoin, the support level for this range is built around 1781 SAT. Resistance is set at 1900 SAT as the market price is still moving below the 9-day and 21-day moving averages. Technically, the price continues to move sideways in the channel as the Relative Strength Index (14) technical indicator moves around the 40 level.
However, if Cardano price remains below the moving averages, ADA/BTC could likely reach the support level of 1500 SAT and below. Additionally, any bullish movement above the moving averages may allow the market to form a new uptrend, and this could reach the potential resistance at 2100 SAT and above.
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Primary source: https://insidebitcoins.com/news/cardano-price-prediction-for-today-may-21-ada-bulls-m…
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