Cardano Price Prediction: ADA Breaks Past The $0.80 Psychological Level With Ease

Last Updated July 23rd 2021
2 Min Read

Daily Cardano ADA Technical Analysis
  • Bulls have stayed in control of Cardano price for six straight days.
  • The RSI has jumped into the overbought zones.

Since January 28, the Cardano price has jumped from $0.31 to $0.81, gaining around $0.50 in its overall valuation. During this spectacular jump, ADA has flipped the 20-day SMA from resistance to support.

 

Cardano Price Has Six Straight Bullish Days

Over the last six days, the Cardano price has jumped from $0.44 to $0.81, nearly doubling its own value. The parabolic SAR has flipped form resistance to support, showing that the current market sentiment is overly optimistic. The relative strength index (RSI) has jumped into the overbought zone, indicating that it is overvalued.

ada/usd daily chart 021121

Image: ADA/USD daily

Up next, the Cardano price needs to take down the $0.88 resistance wall. Previously, at this level, 968 addresses had purchased 9.4 million tokens. If the bulls take down this level, ADA should reach $0.90.

ada/usd volume chart 021121

Image: IntoTheBlock

In the 4-hour Cardano price chart, the MACD shows increasing bullish momentum. However, as per the TD sequential indicator, the price still has room for 3 more candlesticks before it flashes the sell signal (green-nine candlestick).

ada/usd 4-hour chart 021121

Image: ADA/USD 4-hour

 

Cardano Price Is Expected To Reach These Levels

We believe that the Cardano price is going to confront the $0.88 resistance barrier soon. If the buyers have enough momentum, they should take the price above the $0.90 line.

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