Cardano Price Surges By 4% But The Bulls Have Just Begun, ADA May Hit $0.100 Near-term If Momentum Continues

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Cardano News Today – Cardano ADA has been on a sideways trend for many days now. This was unexpected as the price of ADA was predicted to be in a bull rally because of the Cardano Shelley upgrade. Unfortunately, this didn’t happen. Instead, the cryptocurrency fell along with the rest of the altcoin market even losing significant gains compared to the rest of the cryptocurrency space. Two days ago, the price of Cardano ADA was down by 3.51% against the USD. However, it was able to maintain an ascending triangle which was triggered last month. Yesterday, the price of Cardano ADA started to recover and it has maintained the bullish trend until today. If this continues, ADA may rise as high as $0.1000.

Cardano Price Prediction 2019 – Cardano News Today – ADA News Today – The Bulls Return To The Market

Over the last 30 days, Cardano has had a rough time reaching a low of $0.059 and testing a high of $0.101. The instability of the trend shows that Cardano traders are still not sure if they should bank on ADA or not. There is a lot of anticipation regarding the Cardano Shelley upgrade as we noted in our last Cardano news. However, there is also a lot of panic. Investors are not sure if Cardano Shelley will lead to a surge in the price of ADA or not so they are trying to play safe. Some of them have sold their holdings with the hopes of restocking when the market has a firmer trend.

Right now, the strongest support for the price of ADA is at $0.05 while the strongest resistance is at $0.12. If the price of ADA continues to surge, another resistance will form around $0.14. If it starts to fall, on the other hand, we should expect a resistance to form around the $0.4 level. While the bulls are currently in control of the market, there is a high chance that the price of ADA will correct lower today as indicated by the MACD.

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Cardano (ADA)
$0.058706
2.96%

Against the price of Bitcoin, Cardano has formed significant support around the 603 satoshis level. There is strong resistance at 1641 satoshis. The price of ADA is changing under the 50 day EMA. Since the 26th of May, the ADA to BTC pair has been moving along a symmetric triangle. The relative strength index 14 is beyond level 50.

Cardano Price Prediction 2019 – Cardano News Today – Current Price Of Cardano ADA

At the time of writing, the price of Cardano ADA was $0.088238. This means that it is up by 4.55% against the USD and up by 3.36% against the BTC. The trading volume over a 24 hour period is $166,591,395 and the market capitalization is $2,287,754,300. The bulls are expected to take full control of the market soon. So, it may not be the best idea to sell off your holdings or take your profits yet. However, note that the cryptocurrency market is highly volatile and unpredictable. So, the fact that the price of Cardano ADA is predicted to be bullish doesn’t mean it will be. Always proceed with caution.

What do you think about the Cardano price prediction 2019 in our Cardano news today? Will the price of ADA keep moving higher? 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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