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Cardano price forecast: will the ADA price rise to USD 1?

 


Is the Cardano price going up to $1 now? The ADA course is on the verge of a bullish breakout and could rise sharply as a result.


The Cardano price is in a bullish price pattern

Cardano price is in a bullish price pattern; an ascending triangle. Finally, the Cardano price is forming a series of higher lows and is about to bullishly break the golden ratio resistance around $0.58.


Should Cardano break out in a bullish way, the ADA price could surge around 30% to reach the next Fib level around $0.72. Additionally, the 200-day EMA is acting as additional resistance at around $0.76.


In addition, the histogram of the MACDs in the daily chart is ticking bullishly higher and the MACD lines are also bullishly crossed. The RSI is neutral and gradually reaching overbought regions.


Will the Cardano price rise to 1 USD?

In the medium term, the Cardano price could rise to around USD 1, but the ADA price is already facing heavy resistance at around USD 0.92. There the Cardano course encounters golden ratio resistance and the 50-week EMA.


In the medium term, things are looking very bullish for Cardano, especially if the weekly candle closes above the 200-week EMA around $0.54. After all, the histogram of the MACDs has been ticking bullishly higher for weeks and the MACD lines have also crossed bullishly. The RSI is also neutral here.


50-month EMA has already been breached

On the monthly chart, the MACD histogram is ticking bullishly higher this month, which could mark the start of a bullish trend reversal. The ADA price has already overcome the 50-month EMA at around USD 0.517. A monthly close above the 50-month EMA would indicate a continuation of the upward movement. A monthly close below would be very bearish.


For a fully bullish trend reversal, the ADA price needs to clear the golden ratio resistance at around $2.1.


Against BTC, ADA price moves between two Fib levels

Against BTC, the ADA price has been trending higher for the past few days, ranging between the 0.382 Fib resistance at around 0.00024 BTC and the 0.382 Fib support at around 0.00021 BTC. The MACD histogram has been ticking bullishly higher for months. Currently it looks like the ADA price is moving again to the 0.382 Fib resistance at around 0.00024 BTC.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.


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