Cardano Price Poised To Surge Soon!
The Cardano price was outspread in the past couple of weeks as it smashed the milestone above $2. It remained above these levels for a couple of days until the black Wednesday slumped the price close to $1.
Yet since then, the ADA price has attempted hard to accumulate enough boost to propel towards the north. However, a couple of pullbacks dragged the price below yet it looked poised to hit the higher levels above $2 very soon.
The price, since it smashed the highest ever levels around $2.4, began to trend within a descending channel. However, the price is trending within the upper band of the channel and an upper breakout appears imminent.
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The trading volume has witnessed an extreme push by swelling nearly 25.55% to hit more than $9 billion. And hence price may soon hit the upper levels at $1.6 and eventually smash the resistance levels around $1.8.
Once the resistance levels are reached, then the levels around $2 to $2.4 appear imminent as predicted by an analyst, jeoyfreako. The analyst predicts a price jump that may touch $2.4 and in an extended bull rally may also cross the levels soon.
At the time of writing, the cardano price is $1.59 with a drop of 6.60% in the past 24 hours. With the slmp, the market capitalization also has declined by more than 6% and settles around $50,793,259,019.
Currently, the ADA price needs to hit the upper resistance levels at $1.85 and not plunge back towards the support levels $1.39. However, the market sentiments are extremely bullish and the indicators are currently neutral which may point towards a buy signal very soon.
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