MarketPredictionPrice Analysis

ADA Gains over 25% in 24 Hours, Heads Towards $1

  • Cardano gears to reach the bullish price of $.70
  • ADA eyes multiple network upgrades this year

Cardano (ADA) continues to be one of the busiest and active digital assets in the crypto world. As a result, ADA is now on close watch by investors around the world. In addition, the developers of the network are now building the plan to launch stablecoin on Cardano’s blockchain. Indeed, this might trigger mass adoption of ADA cryptocurrencies.

In terms of technology, the network is gearing to complete its Goguen mainnet launch this first quarter of the year. Consequently, the Cardano community got fired up. When it comes to market position, ADA’s market capitalization boost to over $16 billion, a great market standing. Hence, the crypto ranks as one of the top 10 cryptocurrencies in CoinGecko.

Do you think this is enough for Cardano to reach the bullish price of $.70? Are you already interested to know? Therefore, join me and let us see the chart in this Cardano price analysis.

ADA Price Analysis 2021

ADA Uptrend Position  (Source: TradingView)

Based on the graph above, ADA manages to survive the crypto market’s wild market swings. Also, the chart displays Cardano’s price boost to almost +200% from January 1 to February 5, 2021. If this trend continues, Cardano might go over its $.50 resistance level and climb up to the bullish territory.

Granted that, ADA may continue to rally its price along with the bulls within the price range of $.60 to $.70. Specifically, this price surge to $.70 has a growth rate of almost +40% from its current price. Truly, a growth level favored by its investors. Of course, this is most likely to happen if the bullish market continues to favor the crypto.

In terms of trading position, the crypto position itself above the Arnaud Legoux Moving Averages (ALMA), a bullish position. In other words, traders can trade ADA with confidence without worrying about a major price reversal.

Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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