Cardano Price Prediction: ADA Price Reclaims $0.80; Is Time To Enter?
ADA price trades higher on Wednesday as the bulls seem to be back in action. A green candlestick suggests the presence of the underlying bullish undercurrent. The price managed to claim the psychological $0.80 mark after a brief stint near $0.73. In addition to that, an average volume indicates that the price might ignore any bearish sentiment as of now. Still, the ADA buyers must meet a few challenges before moving north.
- ADA price prints gain for the first time in a while with strong buying momentum.
- Expect a run-up to tag the swing high of $1.0 after clearing the $0.85 hurdle on a daily closing basis.
- Intraday volume supports the bullish move with a more than 7% rise at $784,977,199.
ADA price trades near an inflection point
On the daily chart, the ADA price dragged lower from the recent highs of $1.24 made on April 4, a descent of nearly 40%. As we can see on the chart, the ADA buyers muster the strength around long-time horizontal support placed near $0.70. BTC price continues to trade lower since it made lifetime highs around $3.09 in August.
Currently, the price oscillates near a make or break zone. Now, the reason to have a bullish view on the coin is that $0.75-$0.80 contains a reliable support ground.
Now, a strong green candlestick prompts investors to build up a long position. In the journey, the first upside hurdle that needs to be crossed is the highs made on April 27 at $0.85. In addition to that, a sustained buying pressure would clear the way toward the ultimate target of $1.0.
Conversely, a shift in the bullish sentiment might put a question on the bullish outlook on the asset. If the price closes below the session’s low this would result in meeting the fresh new lows.
As of press time, ADA/USD reads at $0.81, up 5.98% gains so far.
- ‘Great Progress’: Cardano Founder Shares Update After CLARITY Act Roundtable
- Jerome Powell Signals No Rush to Cut Rates, Bitcoin Falls
- FOMC Meeting: Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps
- “Beyond a Centralized Exchange” Bitget CEO Unpacks Universal Exchange Vision on 7-Year Anniversary
- Breaking: CME Group to Launch Solana and XRP Futures Options as Institutional Demand Grows
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
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.
Premium Partners
