Cardano

The post <a href="https://coinpedia.org/price-analysis/ada-price-prediction-will-cardano-cross-1-in-this-bull-run/" rel="noopener noreferrer nofollow">ADA Price Prediction: Will Cardano Cross $1 In This Bull Run?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the overall market reflecting a calmness, the altcoins are predicting a storm coming in for the crypto market. As the altcoins are preparing patterns for a reversal or breakout, ADA price is forming a channel in the daily chart.&nbsp;
Further, the market is ready for a “pre-haling rally” in the coming week that may soon spark a new altcoin season. Hence, the general sentiments support the bullish reversal in Cardano.&nbsp;
With the increasing bullish expectations, will ADA token prices reach the $10 mark? Find out NOW in our <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" rel="noopener noreferrer nofollow">Cardano price prediction</a>.&nbsp;
<h2 class="wp-block-heading" id="h-bearish-50d-ema-dominates-cardano">Bearish 50D EMA Dominates Cardano</h2>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="464" src="https://image.coinpedia.org/wp-content/uploads/2024/02/06122826/image-40-1024x464.png" alt="" class="wp-image-267313" srcset="https://image.coinpedia.org/wp-content/uploads/2024/02/06122826/image-40-1024x464.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/02/06122826/image-40-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/02/06122826/image-40-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/02/06122826/image-40-1536x696.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/02/06122826/image-40-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/02/06122826/image-40.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source – <a href="https://www.tradingview.com/x/LFsrnYkq/" rel="noopener noreferrer nofollow">Tradingview</a>
Prolonging the falling channel in the daily chart, the Cardano is showcasing a bearish influence over the price trend. The declining trend resonates with a gradual fall in the trading volume over the period, teasing a downfall.&nbsp;
Moreover, the recent bull cycle in the channel struggles to surpass the 50-day EMA and the overhead resistance trendline. Thus, the ADA price reverts with a double top pattern, leading to a drop below the $0.50 mark.
Currently, ADA price trades at $0.49 and displays a 0.61% intraday fall while teasing a sharp correlation to $0.45.
Technical indicators:
RSI indicator: Despite the declining price trend, the daily RSI line shows a gradual reversal before the oversold boundary line. Further, the bullish divergence is visible, which increases the bullish breakout credibility in ADA price.&nbsp;
<h2 class="wp-block-heading" id="h-will-ada-price-leap-beyond-0-60">Will ADA Price Leap Beyond $0.60?</h2>
With the ongoing correction teasing a retest of the 50% Fibonacci level at $0.454, the ADA price trend expects a drop in the short term. However, the growing divergence and the change in market sentiment tease a bullish reversal in Cardano, potentially leading to a channel breakout.&nbsp;
In such a case, Cardano can reach the $0.668 mark in the coming week. On the downside, a drop below the support trendline can test $0.40.

ADA Price Prediction: Will Cardano Cross $1 In This Bull Run?

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