Cardano Latest Update – Top Headline for Cardano ADA, February 19th, 2020

  • Cardano ADA price hits $0.6 level
  • Volatile week ahead for ADA, losses 1.88% 

ADA Price prediction 2020 – ADA coin seems to be doing well amidst Bitcoin’s whale’s action. ADA price followed the major trendline in the past 24-hours. ADA price has managed to gain momentum to the needed support level and it has attained a new high shortly after the decline. ADA price encountered a reverse head and shoulder pattern to surge above the $0.620 range. Although, the total market trend went into a bearish pattern shortly after the ADA price surged, driving it into another reverse head and shoulder pattern.

Cardano price prediction 2020 – Coming from the second reverse head and shoulder pattern with the BTC price movement, the ADA price achieved a new height above the $0.6390 mark, shortly after a brief touch of the $0.64 level. ADA price is currently at $0.6195. Commenting on ADA price movement, prominent crypto analyst and trader on Trading View Luca Turci claim that ADA is gradually moving in an ascending channel. Turci claims that ADA is moving in a firm bullish trend that is likely to take the price of the token beyond the current lows and into new highs around $0.800 level.

Cardano explorer – Also, for ADA price to attain the new highs, ADA price would have to break past several hurdles. The major resistance level at the $0.65 level, followed by the $0.68 and $0.70 levels. If ADA price manages to break past these major resistance levels, it can move above the $0.800 level and into the $0.900 level easily.

Volatile week ahead for ADA, losses 1.88%

Cardano testnet – Regardless of this analysis, the price movement of ADA is solely dependent on the bullish market actions, especially that of BTC. Hence, traders are advised to apply caution while trading. Last week, ADA faced a decline in value by 1.88%, even though it has traded well all through the week. Over the last seven days, ADA price has encountered several ups and downs. Currently, the ADA price is trading around $0.062479, and it is 0.25% more than its 20 days MA at $0.062319 and 0.21% less than the 50 days MA at $0.062611.

Cardano explorer – The RSI of ADA/USD is currently at 51. These figures signify that the ADA token might follow the same trendline for a while before showing any abrupt movements. Going by the current price trend, ADA price may test the next resistance around $0.064. In the last two days, ADA price recorded a 14.74% surge and attained a $0.064056 level. Although ADA price declined to $0.062 level, the total trendline remains upward.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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