- Cardano price to continue bullish action
- Cardano ADA opened trade today at $0.060
- Cardano has pumped gains of 95% since 2020
Cardano news today – while the price of Cardano has performed very well since 2020, especially during the last few days, it does not look like the digital asset is ready to give in. The charts show that the bull-run is set to continue. In the last 24 hours, the price of Cardano has reportedly risen by 0.95% which has taken it to the $0.061 area as of when this content was written. The bullish action has continued even though ADA price dipped beneath the $0.061 mark today, the overall trend for the Cardano price remains positive.
Cardano ADA Price Opened Trade at $0.060
Opening trading today at the $0.060 area, the digital assets price went down until it reached the $0.056 area. However, this trend was reversed when the coin gained momentum and moved to a peak of $0.061. While the price of ADA is still moving within the $0.61 mark, the majority of traders believe that Cardano is set to maintain its recent excellent price performance. Cardano’s weekly chart remains positive. The ADA Parabolic stop and reverse technical indicator is still underpriced along with the chart’s Fisher Transform lines on-top the zero pattern and the bullish MACD line. This implies that the price of ADA is a solid medium-term or long-term investment option.
Cardano (ADA) Price Today – ADA / USD
Additionally, the eight-week EMA (exponential moving average) has reached were the 24-hour EMA is which signals a bullish pattern in the coming days. One crypto trader stated that since the price of Cardano is trading above the pivot position at $0.056, it is highly likely to maintain its bullish performance until it gets to the resistance at $0.103. This is also possible if it registers an 84% gain. The above sentiment is shared by trader Michael Van de Poppe who says the ADA price movement places it among the hardest gaining altcoins.
Cardano’s Year has Been Impressive
Meanwhile, Peter Brandt, the veteran commodities trader and altcoin skeptic recently suggested that now is the time to buy ADA. Brandt said the market indicators and price action makes this the best time to buy ADA. The price movement of Cardano began on a high this year, after the successful launch of ADA’s Shelley testnet in December. 2020 has seen the Cardano price pump by 95% which is a significant improvement. Cardano’s current performance is predicted to continue. The fact that Cardano founder, Charles Hoskinson spoke about some upcoming developments happening within the network (including Goguen development the Blockchain’s next iteration), shows that the coin is set to stay bullish for a long time.