Amid the ongoing market volatility, the crypto space has experienced a strong bullish recovery over the past few hours. Following this, the ADA price regained momentum and recorded a double-digit price surge in its respective portfolio.
Will Cardano price maintain its bullish price sentiment and achieve a new 52-week during the upcoming days? In this article, we at CoinPedia have covered the short-term market sentiment, price analysis, and the possible targets of the 09th largest cryptocurrency in the world.
Cardano Price Successfully Retests Its Important Support Level!
The ADA price has added 7.26% to its portfolio in 24 hours with a trading volume of $2.279 billion, a change of -10.89%. Despite recording a correction of 5.61% over the last seven days, this altcoin has surged over 100% in 30 days.
The Relative Strength Index (RSI) has successfully retested its neutral point and has recorded a sharp rise toward the overbought range in the daily time frame. Furthermore, the average trendline trades around the upper limit, highlighting a strong bullish price action.
On the other hand, the Moving Average Convergence Divergence (MACD) shows a rising red histogram in the Cardano price chart. With its averages recording a significant downtrend, this altcoin hints at a mixed-price sentiment this week.
Will ADA Price Hit $1.6 This December?
If the market favors the bulls, the Cardano token will retest its resistance level of $1.20. Further, if the bullish sentiment sustains, this altcoin could head toward its upper price target of $1.40 by the year-end.
Conversely, if the bears outrun the bulls, the ADA token could retest its $1 mark. Further, if the bearish sentiment intensifies, this could pull the price of this altcoin toward its lower support level of $0.800.
To find out answers to questions like “Will Cardano reach $3?” Read our Cardano Price Prediction. Also, subscribe to CoinPedia to stay connected with the world of cryptocurrency.
FAQs
Considering the present market sentiments, the ADA price could conclude the year 2024 with a bullish price tag of $1.42.
With increased adoption in the cross-border financial system, the Cardano token could hit $10.32 by 2030.
With increased bullish price action, the ADA coin price may surpass the $2.5 mark in 2025.
