Price Analysis

Cardano Follows the Market Sentiment; Trades Above $0.100

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Cardano—third generation crypto platform, is just hitting the right chord and leaves behind the initial cryptos of the market viz., Bitcoin & Ethereum. With this, the price dynamics of ADA have led to Cardano ranking amongst the market’s top 10 cryptos. With the current bullish movement in the current market, the sentiment is already breaching the upper BB. Cardano is becoming blue-chip crypto over time and is leaving behind major cryptos like XRP in terms of return on investment.

Cardano Price Analysis

Cardano News
ADA/USD Chart By TradingView

Today, Cardano was seen trading at $0.111 after a complete intraday bullish crossover and cryptos like Binance Coin, Chainlink, XRP, etc., which are ranked amongst the top 10 cryptos of the market. Over the past six weeks, the ADA coin has dipped as low as $0.075. And it has already crossed above $0.100 with strong support from SMA50 & SMA200 lines at $0.100 & $0.095, respectively.

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While the Cardano price hits the upper Bollinger Band but holds no trading extremities whatsoever and is seen hitting the 30-day high. The MACD line is seen crossing above the signal line and holds a bullish crossover due to price spike. The RSI of this third-generation crypto is already hitting the overbought region at 67.09 leads to increased demand.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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