Cardano Price Analysis: ADA Needs To Overcome $1.36 Resistance To Flip Market Sentiment

Daily Cardano ADA Price Forecast

2 Min Read
Last Updated July 23rd 2021
  • Cardano price has reversed the 20-day and 50-day SMAs from resistance to support.
    • ADA has robust support walls on the downside.

    Between April 16 and April 25, the Cardano price crashed from $1.48 to $1.09, losing almost $0.40 in the process. During this downward plunge, ADA managed to flip the 20-day and 50-day SMAs from support to resistance.

     

    Cardano Price Rises After Flashing Buy Signal

    This Monday, the Cardano price started a surge which has so far resulted in a hattrick of bullish days. The price has jumped from $1.09 to $1.31, flipping the 20-day and 50-day SMAs from resistance to support. The MACD shows decreasing market momentum.

    Image: ADA/USD daily

    ADA/USD  daily chart 042821

    Cardano price faces an immediate resistance barrier at $1.36. Previously, at this level, nearly 50,000 addresses had purchased almost 925,000 ADA tokens. If ADA manages to cross this resistance level, it should reverse the parabolic SAR from negative to positive.

    Image: IntoTheBlock

    ADA/USD volume chart 042821

    Cardano Now Part Of University of Zurich Blockchain Curriculum for 2021

    The University of Zurich recently announced that it is adding Cardano to its “Deep Dive into Blockchain 2021” curriculum. The course will be taught to students studying in the UZH Blockchain Center modules. Notably, Cardano is posited as a "blockchain platform for changemakers, innovators, and visionaries’ to ‘bring about positive global change."

    The course aims to teach students about several facets of blockchain technology, including its technical scope and critical design theory. It would also cover the economics & incentives behind blockchain-based systems and how they interact with existing infrastructure in the real world.

    The University of Zurich has brought in many talented guest lecturers to teach the course, including members of the Tezos Foundation and IOST. The CEO of Cardano, Charles Hoskinson, would also be a guest lecturer on this course. The University's move signifies how the blockchain space is emerging and being adopted by forward-thinking educational institutions.

     

    Cardan Price Is Expected To Reach These Levels

    The Cardano price needs to flip the 20-day SMA and climb up to the $1.36 resistance wall.

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