ADA Price Prediction – Cardano ADA’s 10% Surge is Great But the Token Isn’t Out of the Woods Yet – October 12th, 2020

  • Cardano ADA Increased by More Than 10%in 24 Hours Moving Above the $0.1100 levels
  • Analysts Believe That The 10% Rise Above the $0.1100 Level Doesn’t Mean the Bearish Rally Has Ended 

Cardano ADA Price Prediction – Yesterday, the Cardano ADA token surged by more than 10% against the USD. The price rise allowed the token to retest the $0.1100 level where it faced some resistance against the USD and Bitcoin BTC. The token moved above the $0.1100 for the first time in weeks but analysts do not believe that this is the end of the bear market. As the price of the token surged, it carried the entire market along but outpaced all the tokens including Bitcoin BTC.

ADA Price Prediction 2020 – Cardano ADA Still Has Some Stormy Days Ahead

At the time of writing, the price of the Cardano ADA token was trading at $0.104005. It is down by 3.51% against the USD and down by 2.78% against Bitcoin BTC. The trading volume over 24 hours was $772,068,725 and the market capitalization was $3,235,856,982. The token has moved above several resistance levels that seemed impossible a few weeks ago and the technical indicators show that Cardano ADA is on a bullish break. These same technical indicators show that the Cardano ADA token primed for a reversal soon.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$1.36

If the Cardano ADA token maintains the bullish momentum and moves above the $0.115 level, it will gather the momentum it needs to move higher near-term. The token is still above the 100-day simple moving average which it reaches shortly after it crossed the 50-day moving average. The 50-day simple moving average is at the $0.0.067 level while the 100-day simple moving average is at $0.0620.$A failure to move above the $0.115 level will see the price of the ADA token retracing as low as the $0.089 level where the strongest support currently exists. A fall below this support will take ADA to the next key support at $0.075.

Long-term, there is a strong chance that the ADA token will move as high as $0.154. This was the yearly high it reached sometime in July before it started to fall lower. For the token to rest $0.154 again, it has to move above the key resistance at the $0.128 level. In the next few days of trading, the Cardano ADA token might either remain stable or move lower against the USD.

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