Cardano Price Prediction: ADA Must Overcome $1.35 Resistance

Daily Cardano ADA Technical Analysis

Last Updated July 23rd 2021
2 Min Read
  • Since March 18, the Cardano price got rejected 7 times at $1.35
  • The MACD has reversed from bearish to bullish.
  • Between March 27 and April 10, the Cardano price has been trending horizontally below the $1.24 line. Along with this price level, the $1.35 resistance barrier is pretty formidable. Since March 18, ADA got rejected 7 times at this line.

    Cardano Price Breaks Above $1.24 Level

    On April 11, the Cardano price finally managed to break above the $1.24 line and club together 3 straight bullish days reaching $1.32. The MACD has reversed from bearish to bullish so a further increase in price is expected. The relative strength index (RSI) shows that ADA still has more room to grow.

    Image: ADA/USD daily

    ada/usd daily chart 041321

    Looking at IntoTheBlock’s IOMAP, we can see why $1.35 resistance is such a formidable obstacle. Previously, at this level, 17,000 addresses had purchased 465 million ADA tokens. On the downside, there are some formidable support walls.

    Image: IntoTheBlock

    ada/usd volume chart 041321

    Banking App Revolut Adds Cardano

    Famous digital payments firm Revolut recently said that it added 11 new crypto assets to its banking app. The platform now supports smart contract platform Cardano (ADA), decentralized exchange Uniswap (UNI), DeFi synthetic assets trading platform Synthetix (SNX), (YFI), financial contracts platform UMA, Bancor (BNT), in addition to other assets. 

    The company announced its new crypto offerings four months after introducing support for EOS, enterprise scaling solution OMG Network (OMG), peer-to-peer exchange 0x (ZRX), and smart contract platform Tezos (XTZ) in December. 

    The firm said:

    You asked for new tokens, we’ve delivered. We’ve been tracking hot tokens and top movers to bring our UK and EU customers eleven new cryptocurrencies.

    Revolut offers a mobile app that allows customers to trade cryptocurrencies and transfer money across countries in over 28 fiat currencies using an exchange rate that lets them save as much as 8% per transaction.

    The payments firm is one the fastest-growing fintech companies in Europe, the Middle East, and Africa, according to the 2019 Deloitte Fast 500 Europe competition that ranked companies based on geographic regions.

    Cardano Price Is Expected To Reach These Levels

    The Cardano price will likely gain enough momentum to reach the $1.35 resistance barrier.