Cardano (ADA) Warms Up the Engine Before $0.4
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

Cardano (ADA) Warms Up the Engine Before $0.4

January 6, 2021      Peter Oleshchuk

Almost 6 weeks of struggles near the key level of $0.17 in the market is finally over. Since the beginning of November, Cardano (ADA) has become very interesting to investors and remains interesting to this day. This is evidenced by the daily trading volume, which according to CoinMarketCap is $3,222,724,632. Ranking 8th place in the overall ranking of all cryptocurrencies by volumes, the ADA has grown in 2 weeks by more than 50%. Before breaking the basic range of $0.155-$0.17, sellers tried to organize at least some price correction.

Cardano (ADA)

However, as we can see in the weekly chart, each weekly candle was closed with pins down.

READ  A Single Dogecoin Address Holds 27% of Entire DOGE Supply

The ADA volumes growth speaks of its great growth potential

In the week from 23 to 30 November, the largest number of trades in the entire existence of the ADA was recorded. The weekly candle closed in a critical range and clearly hinted at the end of the era of sellers.

If you look at the global Cardano (ADA) chart, the potential for continued growth is extremely high.

On 4 January 2018, the ADA set a new historical high at the mark of $1.2. At the time of writing, buyers have managed to test $0.24. If you compare this coin with BTC, which has updated its historical high a long time before, or ETH, which is very close to its historical high, it becomes clear how much ADA buyers need to make up.

READ  ADA Struggles to Break Out of Support Levels at $0.329

The ADABTC price growth prospect is about 100%

This fact is confirmed by the chart of the ADABTC pair.

The chart shows that from April 2019, the ADABTC price is moving in broad consolidation. The fall wave within the consolidation that has tested the historic bottom of the ADA just has ended. Ahead is the formation of new growth momentum to the upper trend line. Given the underestimation of the ADA, our first medium-term target is $0.39-$0.4. The signal for continued growth to this range will be breaking and fixing the prices above $0.25.

#ADA analysis #ADABTC pair #Cardano (ADA)
Peter Oleshchuk
Peter Oleshchuk

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.