Cardano Price Prediction: Will ADA Price Hit $1 Or Plunge Post 128% Rally?

Story Highlights

• Cardano price is on the path of recording a new 52-week high.
• Technical indicators experience strong bullish sentiments, indicating positive action.
• The ADA price records its March high with a 4% intraday jump.

With Bitcoin price recording a new all-time high during the early Asian hours today, top altcoins have recorded a similar price action by retesting their important resistance levels. Following this, the Cardano price has added 4.85% to its valuation and is on the verge of achieving a new 52-week high.

Are you one of many who are closely analyzing the price movements of this crypto token? In this article, CoinPedia’s expert panel has comprehended a possible short-term price analysis report just for you!

ADA Coin Price Retests It’s 52-week High!

With an intraday jump of ~5%, the Cardano price is constantly headed toward its $0.80 mark. With a 24-hour trading volume of $2.282 billion, this altcoin is currently changing hands at $0.7854.

Notably, this project has soared over 100% within days following its owner showing his favor to President-elect Donald Trump. Moreover, currently, ADA has a market capitalization of $27.696 billion and has secured the 09th position.

The Relative Strength Index (RSI) shows a constant price trend above the overbought range in the daily time frame. This indicates a bullish outlook for the altcoin this week.

The Simple Moving Average (SMA) constantly supports the Cardano price chart, highlighting a significant rise in the buying-over-selling pressure for this altcoin.

Will ADA Price Hit $1 This Week?

Maintaining the price above its support trendline of $0.7750 could set the stage for it to head toward its resistance of $0.8875. Further, if the bulls continue dominating the crypto space, this could push the Cardano price to its target price of $1.

However, a trend reversal could pull the price toward its support level of $0.6850. Moreover, if the bears outrun the bulls, the Cardano token may plunge to its lower support trendline of $0.60 during the upcoming time.

Wondering if the ADA price will reclaim the $1 mark this month? Read CoinPedia’s Cardano Price Prediction and also subscribe to us for the latest news of the crypto-verse!

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