Cardano ADA has overcome the 3-day long bear market that we talked about in our previous Cardano news. After reaching a monthly high of $0.094, the price of ADA fell to the $0.08 level when the price of Bitcoin lost its ground below the $7500 level. The Cardano price prediction for the year was still bullish irrespective of the market correction at the time. While the near-term price action of Cardano is bullish maintaining the bullish momentum has become a challenge for the token. The price of ADA has been moving from being green to being red on CoinMarketCap for the last few trading sessions. Why is the price of ADA unable to maintain the upside momentum? What does this mean for the Cardano price prediction 2019? Will Cardano ever gather enough momentum to surge above the $1 level? These are the key points of our Cardano news today.
Cardano News Today – Cardano Price Prediction 2019 – ADA/USD Price Analysis – Cardano Bulls Have Control Of The Market
Yesterday, the price of Cardano moved higher by more than 6% taking it to the $0.85 level where it met resistance against the USD. The led to a price correction that pulled the price of ADA lower. Since it fell from its monthly high, Cardano ADA has been looking for a strong support. It is important that ADA finds this support soon or risk falling all the way to the $0.57 level. If, on the upside, ADA is able to cross the major resistance at $0.094, it is going to make its way above the $1 level with target at $0.16125. The bulls must control the market entirely for this to happen. Even if they currently have the upper hand in the market, the bears are still struggling to take control.
According to the Cardano price analysis on Cryptopolitain.com, the support Cardano is currently trying to form is at the $0.077 but the technical indicators for this support level aren’t strong enough. The immediate resistance is at $0.088. Right now, the price of ADA is within that $0.077 and $0.088 range. It is in the undersold territory with a – 7.89 relative strength index. This can keep the bears in check for a while. If the price of ADA can move out of the underselling zone, it would reach a new monthly high above $0.16125.
Cardano Price Prediction 2019 – Cardano News Today – Cardano ADA News
At the time of writing, the price of ADA was $0.082562. This means that it is down by 1.17% against the USD and down by 4.09% against the price of BTC. The trading volume over a 24 hour period is $138,160,385 and the market capitalization is $2,140,603,286.
Cardano (ADA) Price Today – ADA / USD
Why is Cardano unable to hold the bullish momentum? The bulls are in the market but Cardano is unable to hold its ground because the price action of ADA is follow the erratic example of the price action of BTC. What does this mean for the Cardano ADA price prediction 2019? The Cardano ADA price prediction 2019 is still bullish irrespective of the short-term trend of ADA. Will Cardano ever gather enough momentum to surge above $1? In the cryptocurrency space anything is possible. Cardano ADA has the fundamentals and technicals to surge above $1.
What do you think about the Cardano price prediction 2019 in our Cardano news today? Share your thoughts in the comment section below.