Cardano Price Analysis: ADA Is On Full Price Discovery Mode

Daily Cardano ADA Price Forecast

Last Updated August 23rd 2021
1 Min Read
  • The Cardano price had four bullish sessions out of the last five.
  • ADA reversed the parabolic SAR to positive.

Since August 18, the Cardano price has jumped from $1.92 to $2.56 over the last five days. Currently, the asset is in full price discovery mode as it searches for new all-time highs. During this jump, ADA flipped the parabolic SAR from negative to positive. The MACD indicates sustained bullish market momentum,

Cardano Price Reaches New Heights

The Cardano price has been on a steady upswing since July 21, wherein it jumped from $1.05 to current levels. There was a slight dip between August 15 and August 17, wherein the Cardano price fell from $2.20 to $1.92.

Image: ADA/USD daily

ADA/USD daily chart 082321

The Cardano price has a strong support wall at $2.20. Previously, at this level, more than 37,000 addresses had purchased nearly 860 million ADA tokens.

Image: IntoTheBlock

ADA/USD volume chart 082321

Cardano Price Is Expected To Reach These Levels

The Cardano price will want to open a session above the $2.60 psychological level.

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