Cardano Price Prediction: ADA Looks To Move To $1.40 As Bullish Trend Continues 

Daily Cardano ADA Technical Analysis

Last Updated December 24th 2021
2 Min Read
  • The Cardano price continued to push up during the current session and is currently up by over 3%. 
  • ADA has been quite bullish during the current week, even though it had started on a bearish note. 

The Cardano price is up by nearly 4% during the current session, with ADA moving to $1.37, as buyers look to push ADA to $1.40. ADA had started the current week on a slightly bearish note, although it recovered on Tuesday, rising by 3.47% and settling at $1.28. Wednesday saw ADA continue to push higher, moving above the 20-day SMA and settling at $1.32. The current session sees buyers in control as they look to push ADA to $1.40. 

Cardano Price Chart Indicates ADA Could Push To $1.40 

The Cardano was quite bearish at the start of the previous week, dropping by over 9% on Monday. ADA recovered on Tuesday, rising by 3.59% and settling at $1.26. On Wednesday, the price continued to push higher, rising by over 3% and settling at $1.31. However, the price fell back on Thursday, falling by over 5% and dropping to $1.24, before another drop of 1.61% pushed the price down to $1.22 on Friday. However, the price recovered on Saturday, rising by nearly 2% and settling at $1.24.

Image: ADA/USD daily  

ADA/USD daily chart 122421

The Cardano price managed to stay in the green on Sunday but fell back on Monday, registering a drop of 0.56% and settling at $1.23. However, ADA recovered on Tuesday, rising by 3.47% and moving to $1.28. ADA continued to push higher on Wednesday, pushing above the 20-day SMA and settling at $1.32. The current session sees ADA at $1.38, with buyers looking to move ADA to $1.40.

We can see that the Parabolic SAR is currently bearish, but if the price continues to push higher, we could see it flip to bullish.

IntoTheBlock’s IOMAP for the Cardano price shows that ADA has strong support at around $1.27. At this price level, over 250,000 addresses have bought more than 6.6 billion ADA.

Image: IntoTheBlock

ADA/USD volume chart 122421

The 4-hour Cardano price chart shows us that ADA had pushed up to $1.29 on the 19th. The price turned bearish from this level, falling back below the 20 and 50-bar SMAs, dropping to $1.21. The price pushed back up from this level, pushing back above the 20 and 50-bar SMAs and settling at $1.26. The price continued to push from this level, rising to $1.35 on the 22nd before dropping to $1.32 on the 23rd. The price pushed up from this level, rising to its current level of $1.38.

We can see that the Parabolic SAR and MACD are both bullish, indicating that the price could push higher from this level.

Image: ADA/USD 4-hour 

ADA/USD 4-hour chart 122421

Cardano Price Is Expected To Reach These Levels 

Looking at the Cardano price chart, we see that ADA has been extremely bullish during the current week. We could see the price push to $1.40 if the current sentiment persists.