This last weekend has been a blast for cryptocurrencies with prices moving higher and higher as the bulls slowly take control of the market. Cardano wasn’t left out from this bullish wave. Just like other cryptocurrencies, Cardano (ADA) got a significant boost in price. The demand zones were at $0.0001, $0.0300, $0.0600, and supply zones were at $0.1600, $0.200, $0.1800. The price of ADA is bullish long-term but the when the bears regained momentum short-term, they pushed the price down toward the $0.07821 level. It later went lower into the $0.06220 which happened to be in the demand area. This was were the bears ran out of steam giving the bulls an opportunity to enter the market. This is according to the price analysis by Azeer M on BitcoinExchangeGuide.
Cardano (ADA) Price Today – ADA / USD
A bullish railroad was formed and the price went above the 10 EMA and trading as high as $0.08434. This marked a price break from the higher part of the descending channel. The bulls continued to put pressure on the market until the price went as high as $0.09425 on Sunday.
The stochastic entered into the overbought region moving towards 81% with its signals pointing up. This shows that the price is going upward and the bulls are becoming more dominant in the market. The bulls will most likely target $0.1050 which happens to be in the supply area. If the price continues to move in the bullish zone, it will go as high as $0.1200 after $0.1050. This is going to be good news for the Cardano community. As reported by smartereum.com, the Cardano community has been putting pressure on the Chairman to step down and let someone else do the job.
Cardano (ADA) Price Now
At the time of writing, Cardano was trading at $0.085127. This indicates a 6.66% fall against the USD and a 5.37% fall against Bitcoin. The trading volume over the past 24 hours is $121,765,850 while the total market capitalization is $2,207,085,928.