ADA Starts to Rise Against the USD. At the time of writing, the price of Cardano ADA was $0.143533. This shows that it is up by 4.32% against the USD and up by 3.90% against Bitcoin BTC.
The trading volume over a 24 hour period is $348,480,028 and the market capitalization is $3,721,395,084. It might not be as high as its recent yearly peak but it is doing better than it was this time last week. As the price of the ADA token is rising, there has also been an increase in the number of staked ADA tokens.
The Cardano development team announced that the $1.74 billion in ADA tokens have been staked so far. This is equivalent to about 12.49 billion tokens. There have been 31,000 delegators on the blockchain. This and many more show that the fundamentals of Cardano ADA are bullish now and in the long run.
At this time, there is the key resistance for Cardano ADA at the $0.1560 level. At the same time, the most important resistance is at $0.1250. If the Cardano ADA token falls below this level, there is nothing to stop it from moving as low as $0.1205 and even lower. The $0.1250 support also happens to be the 50-daily moving average. However, it is important to note that there is a range-bound price rejection at the $0.156 level which is also the 0.5 Fibonacci level. This is why moving above this level will lead to a significant surge against the USD.
A clear formation of an extensive bullish rally has appeared on the price charts. The long position for Cardano ADA has been bullish for a while now. Traders are setting their stop loss for Cardano ADA at $0.1205 and $0.1180 level. You can take your profit and keep trading with your capital at this level. In the next few days of trading, we will know if the price of ADA will surge significantly or drop significantly anytime soon.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Cardano ADA Finally Gains the Momentum Required to Move Above the $0.1400 Level
- Latest Prediction Paces ADA Between $0.156 and $0.262 Near-term
After months of surging significantly against the USD, the Cardano ADA token started losing momentum against the USD. Things got worse earlier this week and the token declined below the $0.1200 level for a while. Even when the bulls managed to gain some momentum, moving back to the $0.1400 level with higher highs to come if the bulls can maintain the momentum.
The mid-term pick for Cardano ADA could be anything from $0.1500 to $0.262. At the same time, the global demand for Cardano ADA and the Cardano blockchain has been on the rise.