Analysis of the Cardano price reveals that the bulls are in charge and that the market momentum has recovered. The price is currently at $0.4324 and is anticipated to increase even more to reach $0.4348. Cardano is hardly an exception to the recent market volatility. The bulls drove the price of the cryptocurrency above $0.43 to kick off the week strongly. But the bears gained control and drove the price to $0.42.
At $0.4348, ADA/USD encounters resistance. This is an important level to keep an eye on because a break above this resistance might lead to a price target of $0.44. Support for ADA/USD is located at $0.4255 on the downside. Cardano price analysis is present in a bullish trend as prices have been increasing steadily over the past few hours. However, the traders should be cautious as the prices may consolidate before making another move. The next few days will be crucial in determining the direction of the market. ADA/USD is among the few cryptocurrencies that have shown some stability in the last few days while most others are still struggling to find their footing.
Thanks for the general overview, but it would be interesting if you shared the "why" for any of your claims. (ex. "the bulls are in charge, because.."). It looks like the downward pressure has encountered a strong resistance, but it isn't really clear to me that the resistance will hold, without a positive catalyst in the general crypto scene. In the uncertain times we live in, investors seek shelter, or just cash out, they don't invest in new technology. Regulations pressure will encrease as the World Economic Forum wants to push their digital coin to control us all. It's a war on every front. Am I missing any good news ?
IPatrice
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@gregoriotempesti, No you are not, but to be honest the war doesn't change the fact that must still end up being bullish. or what do you think to drop your comment? And how long have you been in the crypto space?