Cardano Price Primed For Bullish Come Back As Key Support Remains Protected Despite Bearish Pressure In The Market

Cardano ADA News Today – In our previous Cardano news, we talked about how the price of Cardano ADA was falling irrespective of the Cardano Shelley testnet launch that is set to happen this month. To be fair, ADA was falling along with the entire cryptocurrency market thanks to Bitcoin and other large market capitalization coins. Before the price of ADA started falling against the USD, it was reporting significant gains thanks to the anticipation surrounding the Cardano Shelley upgrade. Even if the price of Cardano has been falling for the last few trading sessions, the latest Cardano price prediction on Blockonomi.com suggests that the bulls haven’t left the market yet and they are making a move to come back.

Cardano Price Prediction – Cardano News Today – Cardano Latest Update – Cardano Shelley Testnet

When the price of Cardano ADA was rising, our Cardano price prediction was that it would break the key resistance at $0.1000 for the first time in a long time. Unfortunately, this didn’t happen. Rather than break the resistance, the price of ADA fell significantly against the USD and Bitcoin. It held the support at $0.0900 for a while before falling below it and risking lower lows. Yesterday, Cardano attempted to hit $0.0900 again but it was rejected by the bears.

There is currently a bullish support forming around the $0.0795. This means that the price of Cardano ADA is primed to spike higher against the USD before it reaches this level or as soon as it does. This is good Cardano news. It means that the buyers still have confidence in the transformative power of the Cardano Shelley upgrade. They are waiting to the price of Cardano to reach a new low so they can buy the dip and gain the most when the price surges.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.144

The price of Cardano ADA had tested the 23.6% Fib retracement level of the last slide from $0.0984 to $0.0791. If the bulls are to gather momentum, the price of Cardano ADA will move as high as $0.0880. Moving above this level will take it as high as $0.0900. The 25 SMA is near $0.0882. This means that closing above the $0.0882 level will lead to a bull run that will drive the price of Cardano ADA as high as $0.0900 near-term. Falling below the support at $0.0800 will lead to major losses near-term.

Cardano Price Prediction – Cardano News Today – Current Price Of Cardano ADA – ADA/USD

At the time of writing, the price of Cardano ADA was $0.082795. This means that it is down by 4.22% against the USD and down by 1.72% against the BTC. The trading volume over a 24 hour period is. $148,681,943 and the market capitalization is $2,146,622,828. The next few days of trading will determine if the price action is going to change. It’s likely that the bulls will prevail and the price will move back above the $0.0900 level and even higher before the Cardano Shelley testnet activation.

What do you think about the Cardano price prediction in our Cardano news today? Will the price of Cardano ADA surge before the Cardano Shelley is activated on the testnet? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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