Cardano

Rally

Resistance

Verge

Trillion

<img width="2710" height="1454" src="https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12.png" class="attachment-full size-full wp-post-image" alt="Cardano price prediction daily chart" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12.png 2710w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
Cardano price prediction shines a light on a token ready to explore an ongoing bullish outlook. Bulls are eager to take the reins in the wake of the correction from highs at $0.41 to the support at $0.35. 
The ninth-largest cryptocurrency is up 2% on Friday, 9% in seven days, and 34% in 30 days. Trading ADA has since October proved significantly bullish, especially for the bulls. Traders with a higher risk appetite find&nbsp;<a href="https://coingape.com/price/cardano/">Cardano price</a>&nbsp;an attractive investment, mainly in shorter timeframes allowing for scalping opportunities. 
Although bulls have the remains based on the technical outlook in the daily timeframe,&nbsp;<a rel="nofollow" href="https://www.coingecko.com/en/coins/cardano">Cardano</a>&nbsp;is facing an uphill battle due to the resistance at $0.4. A successful breakout above this level is required to enhance the bullish theory for gains above $0.5 and subsequently to $1. 
Recommended for you:&nbsp;<a href="https://coingape.com/markets/shiba-inu-price-prediction-on-the-verge-of-17-rally/">Shiba Inu Price Prediction: On The Verge Of 17% Rally</a> 
<h2 class="p1" id="cardano-price-prediction-as-ada-consolidates-before-breakout">Cardano Price Prediction As ADA Consolidates Before Breakout</h2> 
Cardano holds above all three bull market indicators including the 50-day Exponential Moving Average (EMA) (red), the 100-day EMA (blue), and the 200-day EMA (purple). 
On top of the bull market indicators, the momentum behind Cardano is bound to increase if market participants heed the call to buy ADA based on the presence of two bullish crosses. 
The first golden cross came into the picture with the 50-day EMA moving above the 100-day EMA on November 6 while the second was confirmed roughly a week later with the same 50-day EMA flipping above the 200-day EMA. 
<figure id="attachment_165966" aria-describedby="caption-attachment-165966" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12.png"><img decoding="async" class="size-full wp-image-165966" src="https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12.png" alt="Cardano price prediction daily chart " width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12.png 2710w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/ADAUSD_2023-11-24_20-14-12-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px"></a>
 <figcaption id="caption-attachment-165966" class="wp-caption-text">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Cardano price prediction daily chart | Tradingview
 </figcaption>
</figure> 
For now, it remains to be seen how Cardano price will react to the seller congestion between $0.4 and $0.41. Any signs of the uptrend weakening will be invalidated if this resistance is obliterated. 
Failure to break above this area could change the technical outlook for ADA, with traders likely to start booking short-term profits rather than booking new long positions. Those keen on the position of the Moving Average Convergence Divergence (MACD) indicator may consider shorting Cardano and adding to the selling pressure. 
A sell signal from the momentum indicator manifested with the blue MACD line crossing below the signal line. Other bearish cues include the general downward movement toward the neutral area and the red histograms forming below the same area. 
<h2 id="crypto-traders-predict-what-s-next-for-cardano-ada">Crypto Traders Predict What’s Next for Cardano (ADA)?</h2> 
Most traders expect Cardano to keep the uptrend intact, with some like Alexander Legolas, saying via Twitter (now X) that Cardano is on a journey to reach $0.6 based on the analysis of a bull flag. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 ADA BULL FLAG! THE JOURNEY TO $0.60 IS ON DA WAY! RETWEET IF YOU BELIEVE.<a href="https://twitter.com/hashtag/CARDANO?src=hash&amp;ref_src=twsrc%5Etfw">#CARDANO</a> <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ADA</a> <a href="https://t.co/V8xx52Jjba">pic.twitter.com/V8xx52Jjba</a> 
 — Alexander Legolas (@ShillMoBaggins) <a href="https://twitter.com/ShillMoBaggins/status/1727873044545257475?ref_src=twsrc%5Etfw">November 24, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Crypto analyst and YouTuber on the channel Crypto Capital Venture is also positive for Cardano price, stating that the token is “even more exciting” than Bitcoin which he believes could rally significantly if resistance at $38,000 weakens. 
<iframe title="CARDANO IS DOING SOMETHING SPECIAL!" width="678" height="381" src="https://www.youtube.com/embed/stzV99_BpSk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
That said, it would be prudent to tick some boxes for a breakout to $0.5 and $1. As established, a break above $0.41 would confirm the expected bullish move towards $1. On the other side of the fence, declines may extend to $0.3 if support at $0.35 fails to hold due to intensifying losses. 
<h3 class="p1" id="related-articles">Related Articles</h3> 
<ul> 
 <li class="p2"><a href="https://coingape.com/bitcoin-hits-38000-ethereum-nears-2150-crypto-rally-to-continue/?utm_source=24hrsupdatebitcoin">Bitcoin Hits $38000 While Ethereum Nears $2150, Crypto Rally To Continue?</a></li> 
 <li class="p2"><a href="https://coingape.com/changpeng-zhaos-defense-melds-home-detention-with-personal-accountability/?utm_source=24hrsupdateall">Changpeng Zhao’s Defense Melds Home Detention with Personal Accountability</a></li> 
 <li class="p2"><a href="https://coingape.com/ripple-aims-for-dominance-in-300-trillion-cross-border-payments/?utm_source=24hrsupdateall">Ripple Aims for Dominance in $300 Trillion Cross-Border Payments</a></li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/cardano-price-prediction-ada-climbing-to-1-if-this-resistance-breaks/">Cardano (ADA) Price To Hit $1 If This Resistance Breaks&nbsp;</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Cardano (ADA) Price To Hit $1 If This Resistance Breaks

목차

Coingape News Media

2023년 11월 24일에 게재된 다른 기사

Hong Kong’s Victory Securities to Offer Digital Asset Services in Retail Markets

Breaking: Binance To Delist 10 Trading Pairs

Crypto exchange HTX to resume services a day after suffering $13.6M hack

OQtima Exchange Review: Making Trading Simple

Gate.io Implements Zero-Knowledge Tech in New Proof of Reserves Method

Planetarium Labs’ blockchain MMORPG Nine Chronicles M launches worldwide

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!