Cardano

Resistance

Million

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>ADA price shows a breakout and is heading to claim $0.500.</a></li>
 <li><span>2</span> <a>Cardano price shows bullish momentum and exceeds the key MA.</a></li>
</ul>
<p>Cardano price action noted massive buying momentum and is expected to make it to the immediate mark of $0.500 soon. Moreover, ADA price could rise further by 10% and extend the ongoing bullish trend. Cardano price achieved momentum and spread the bullish wave, which trapped the sellers and buyers, leading the rally over the past number of sessions.</p>
<p>Cardano price has recovered the gains from the demand zone of $0.2500, noting a double bottom pattern near the bottom. Afterwards, ADA price recovered slowly &amp; steadily and noted a breakout on the chart. Furthermore, the ADA crypto attained strength and has higher highs amid the fresh crypto supercycle among its peers.</p>
<p>The live price of Cardano (ADA) is $0.4487, with an intraday gain of 5.48%, showing bullishness on the charts. Moreover, the trading volume increased by 5.25% to $874.15 Million. However, the pair of ADA/BTC is at 0.0000102 BTC, and the market cap is $16.39 Billion. Moreover, analysts have maintained positive ratings and suggest that ADA price may continue to accumulate the gains in the coming sessions.</p>
<h2 class="wp-block-heading" id="strong-cardano-price-gaining-steadily-on-daily-chart-strong"><strong>Cardano Price Gaining Steadily on Daily Chart&nbsp;</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img loading="lazy" decoding="async" width="1600" height="752" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-185.png" alt="Cardano Price Prediction: Will Bullish Wave Push ADA to $0.500?" class="wp-image-183412" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-185.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-185-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-185-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-185-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-185-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-185-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-185-1140x536.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption"><strong>Source: Cardano Price Chart by TradingView</strong>
  </figcaption>
 </figure>
</div>
<p>On the daily chart, Cardano price witnessed a range breakout and was heading to reach the immediate swing mark of $0.500. The technicals display the outperformance, and consecutive buying was seen in the recent sessions. Currently, Cardano market demand exceeded supply by nearly 20 Million ADA. This clearly indicates that the bulls have acquired momentum and are looking to skyrocket ADA.</p>
<p>The RSI curve stayed in the overbought zone, forming a positive divergence on the chart that replicates the bullish outlook.</p>
<p>The MACD indicator shows a bullish crossover and green bars on the histogram, suggesting that ADA has the potential to reach $0.5000 on a short-term basis.</p>
<h2 class="wp-block-heading" id="strong-weekly-charts-displays-trendline-breakout-strong"><strong>Weekly Charts Displays Trendline Breakout</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img loading="lazy" decoding="async" width="1600" height="752" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-186.png" alt="Cardano Price Prediction: Will Bullish Wave Push ADA to $0.500?" class="wp-image-183413" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-186.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-186-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-186-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-186-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-186-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-186-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-186-1140x536.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption"><strong>Source: Cardano Price Chart by TradingView</strong>
  </figcaption>
 </figure>
</div>
<p>On the weekly chart, Cardano price has surpassed the upper trendline and exceeded the 50-day EMA sharply. However, the ADA price is now facing the 100-day EMA barrier and is now pausing the rally. Cardano price has escaped the 61.8% Fibonacci retracement zone, replicating the breakout on the chart.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p><a href="https://www.thecoinrepublic.com/2023/12/06/the-stability-paradigm-unveiling-the-role-of-stablecoins-in-turbulent-markets/" target="_blank" rel="noopener noreferrer nofollow">Cardano price </a>shows massive follow-on buying and has surpassed the trendline barrier of $0.4000, confirming strong buying intent in the recent sessions. Moreover, the price action displays the short covering, and buyers look confident and persist in extending the rally.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels: </strong>$0.4400 and $0.4000</p>
<p><strong>Resistance Levels: </strong>$0.4800 and $0.5000</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

Cardano Price Prediction: Will Bullish Wave Push ADA to $0.500?

Table of Contents

Thecoinrepublic.com

Other articles published on Dec 7, 2023

Dogecoin hits $0.1: Is the memecoin season finally here?

Flare onboards Ankr, Figment, Restake, and NorthStake as validators

Litecoin Sees Biggest 2023 Drop as 199K Wallets Dump LTC in 10 Days

EOS Price Prediction: EOS Flips From 200 Day EMA, Heads $0.800

Robinhood introduces cryptocurrency trading app in Europe

Sui Joins DeFi Leaders, Topping $100M in Bridged USDC

Join our free newsletter for daily crypto updates!