- ADA coin price is currently experiencing strong upward momentum on the daily chart. Meanwhile, the ADA / BTC pair is down 0.8% on the intraday session
- Cardano price could see a breakout above $ 3.2 soon. Despite the delay in the Alonzo Protocol, the price continues to hit new highs every day
Why Invest in ADA Crypto?
ADA crypto price is currently experiencing strong upward momentum on the daily chart and may soon climb above $ 4. The Cardano price on the daily chart is close to the $ 3 level with an intraday gain of more than 0.9%. Cardano was founded in 2017 and the token is intended to ensure that the owners can fully participate in the operation of the platform. The platform has applications in different areas. The company uses it to track fresh produce from the field to the consumer, while other products based on the Cardano platform enable tamper-proof storage of educational credentials and help retailers take action against counterfeit goods. It has over 6664% ROI that is consistently above the others on the market. One can forecast a momentum of up to 10 US dollars in the coming years.
The Alonzo update coming on the Cardano network can act as a powerful catalyst for reaching a new high, $ 4 are on display.
Technical indicators of the ADA crypto price point to a strong upward momentum
Source: trade view
The weekly technical chart of Cardano price suggests strong upside momentum in price for the coming weeks. On the daily chart, the coin price is currently stopping its bullish momentum at $ 3. The ADA price is currently above the daily moving average of 50 and below 100, with a positive crossover in the past. The 100MA line is close to $ 1.9, making it a temporary rebound zone for the coin price. The upward trend in ADA price may stall near the $ 3.2 value. Meanwhile, the coin price support can be seen near $ 2.5. If it breaks above 15-20% of current levels, a bullish trend may soon rise above $ 3.5. The ADA / BTC pair can continue to see new highs going forward.
diploma
The ADA crypto Alonzo update could take it to a new high in the future. The ADA / BTC pair can continue to see new highs going forward.
Technical levels
Main Resistance: $ 3.2
Main grant: $ 2.5
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