Cardano Price Prediction: ADA Aims For $1.40 Amid Sustained Buying Momentum

Rekha chauhan
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Cardano price

ADA price prints the gain for the second session in a row. However, trades in a very tight range with capped upside and downside limits.

  • ADA price edges higher as the fresh trading week begins.
  • More gains towards $1.40 if the price closes above the 200-day EMA.
  • The downside is capped near the $1.10 vital support level.
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ADA price continues to move north

Source: Trading view

ADA price continues to trade in a short-term range of $1.10 and $1.25. The asset is expected to print gains as the volumes supported the current price action. As the price moved beyond the 50-day EMA (Exponential Moving Average) on March 23 with above an average volume. However, the price consolidates since then with declining volumes.

Now, a daily close above the $1.25 level will fuel the further upside rally in the prices. The bulls will face the first upside hurdle at the critical 200-day EMA (Exponential Moving Average) at $1.29. An acceptance above this level will produce an ultimate target of $1.40.

On the flip side, if the price slips below the session’s low then it would continue to move in a sideways manner. Further, the bulls would lose hope if the price breaks the vital support around $1.10.

In this case, the selling could intensify toward the 50-day EMA at $1.03.

As of publication time, ADA/USD is trading at $1.21, up 2.56% for the day. The 24-hour trading volume of the seventh-largest cryptocurrency is standing at $1,717,138,700 with more than 55% gains. A rise in the price along with volumes is a bullish sign for the asset.

Technical indicators:

RSI: The daily Relative Strength Index oscillates near the average line. The current reading is at 65 which indicates the market is still far from overheating.

MACD: The Moving Average Convergence Divergence convergence shows convergence in both averages. Investors should wait for a clear indication before making any decision.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Rekha has started as Forex market analyst. Analyzing fundamental news and its impact on the market movement. Later on, develop an interest in the fascinating world of cryptocurrency. Tracking the market using technical aspects.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.