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Cardano (ADA) Recovers on Sunday: Can it Reclaim $2 This Week?

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The last week has not been kind to Cardano (ADA), causing a loss of of over 35% of its value, although it seems to be posting a slight recovery on Sunday. At the time of writing, ADA/USD is trading at around $1.45.

The recent crash in the crypto market which caused market leader BITCOIN to experience a sharp drop in value also caused a severe fall in Cardano. Although, with the market hobbling its way back towards recovery and investors feeling optimistic after the retracement, could the Ethereum killer also see a speedy recovery and a reclaiming of new ATHs?

Despite the weekly loss, Cardano has made gains over the past month and the founder of IOHK, Charles Hoskinson, remains just as upbeat about his blockchain network and cryptocurrency. In a recent interview, he observed that the recent crash should be seen as somewhat of a pullback and is to be expected in the volatile and unstable world of cryptocurrencies.

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Cardano traders have much to look forward to, especially the upcoming upgrade which could power its smart contract capabilities. Following the success of previous hard forks “Mary” and “Allegra”, the upcoming event Plutus is likely to experience enough traction amid the ongoing DeFi boom.

Key Levels to Watch

For now, ADA/USD is trading with a bearish bias, as exhibited by the MACD indicator and the moving averages. The price finds support at $1.12 and the next immediate level of interest sits just above the current price at $1.49.

If buyers are able to break past this level, we could see Cardano return on to its bullish track and make a play for $1.72. In case the overall crypto market’s sentiment turns more upbeat, Cardano could reclaim the $2 level in the near-term as well.

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Cardano (ADA), XRP Price Could Retest These Levels Before Skyrocketing!

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  • XRP could possibly hit highs of around $1.2. Extreme sell-offs would plummet XRP below $1.
  • ADA might hit its resistance around $2.4 but could test its support levels before the uptrend.

  The crypto space has been a rough sail for altcoins such as XRP and ADA. However, the coins have managed to withstand strong and gusty winds. Meanwhile, investors and traders are eagerly waiting for a pull-out from the blues.

XRP Price

XRP at press time is trading at $1.09, with negative gains for the last 24-hours at 1.1%. The market cap stands at $51,193,598,011. While the trading volume for the last 24-hours hovers around $3,742,571,734. 

XRP has been moving along the descending triangle. A triple top formation is visible on the charts. The coin has attempted to break through each time and has failed to keep up the momentum. 

The digital asset has been moving along a narrow range. If it breaks out the triangle, we can expect it to reach its resistance at $1.2. On the contrary, XRP would move across the narrow range. However, extreme sell-offs would result in XRP plummeting below $1.

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Cardano (ADA)

Cardano, the top-tier altcoin at press time is trading at $2.16 with negative gains at 1.1% for the last 24-hours. While the market cap is at $69,172,092,701. The trading volume for round the clock floats around $1,749,372,395. ADA has not let its foot lose at its level of  $2.0, despite the crash. However, massive sell-offs might result in ADA plunging to its strong support levels. Prior to rebounding to its resistance around $2.4

Collectively, XRP and ADA could propel towards their respective resistance levels in near future. And hopefully, bullish momentum could follow with the commencement of the alt season. Netizens are expecting a massive rally to follow, as it has been due for a brief period of time.

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Cardano (ADA), XRP Price Could Retest These Levels Before Skyrocketing!

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  • XRP could possibly hit highs of around $1.2. Extreme sell-offs would plummet XRP below $1.
  • ADA might hit its resistance around $2.4 but could test its support levels before the uptrend.

  The crypto space has been a rough sail for altcoins such as XRP and ADA. However, the coins have managed to withstand strong and gusty winds. Meanwhile, investors and traders are eagerly waiting for a pull-out from the blues.

XRP Price

XRP at press time is trading at $1.09, with negative gains for the last 24-hours at 1.1%. The market cap stands at $51,193,598,011. While the trading volume for the last 24-hours hovers around $3,742,571,734. 

XRP has been moving along the descending triangle. A triple top formation is visible on the charts. The coin has attempted to break through each time and has failed to keep up the momentum. 

The digital asset has been moving along a narrow range. If it breaks out the triangle, we can expect it to reach its resistance at $1.2. On the contrary, XRP would move across the narrow range. However, extreme sell-offs would result in XRP plummeting below $1.

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Cardano (ADA)

Cardano, the top-tier altcoin at press time is trading at $2.16 with negative gains at 1.1% for the last 24-hours. While the market cap is at $69,172,092,701. The trading volume for round the clock floats around $1,749,372,395. ADA has not let its foot lose at its level of  $2.0, despite the crash. However, massive sell-offs might result in ADA plunging to its strong support levels. Prior to rebounding to its resistance around $2.4

Collectively, XRP and ADA could propel towards their respective resistance levels in near future. And hopefully, bullish momentum could follow with the commencement of the alt season. Netizens are expecting a massive rally to follow, as it has been due for a brief period of time. 

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Cardano Price Analysis: ADA bulls and bears remain within a tight spot at $2.15

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  • Cardano price analysis is bullish today.
  • ADA/USD set a lower low overnight.
  • Cardano is likely to regain some of the loss today.

Cardano price analysis is now bullish, with a new lower low being established after a solid decline over the previous 24 hours. As a result, we expect ADA/USD to recover some of its loss later today as bears become weary.Cardano Price Analysis: ADA bulls and bears remain within a tight spot at $2.15 1 Cryptocurrency heat map. Source: Coin360

The overall market traded with mixed results over the last 24 hours. The market leaders, Bitcoin and Ethereum both traded in the red, with a loss of 2.88 and 2.99 percent, respectively. Meanwhile, Solana and VeChain (VET) dominate the market, with a gain of around 7.5 percent.

Cardano price movement in the last 24 hours: Cardano spikes below $2.15 previous low

During the last day, the ADA/USD pair fluctuated from a low of $2.13 to a high of $2.164, suggesting significant swings throughout that period. Volatility has increased by 27 percent, trading volume has increased by 27.43 percent and totaled $2.78 billion as of this writing, putting the coin in third place overall.

ADA/USD 4-hour chart: ADA set to reverse today?

On the daily chart, we can see Cardano’s price drop beginning to reverse as bears run out of steam after a significant fall.Cardano Price Analysis: ADA bulls and bears remain within a tight spot at $2.15 2ADA/USD 4-hour chart. Source: TradingView

Cardano’s price has remained stagnant for the previous several weeks. Cardano saw consolidation in a tighter range, with a lower peak at $2.30 near the start of October, after establishing a high low of $2.30 in early October.

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The next higher high of $2.30 was followed by a lower low set during the subsequent retracement, which was below $2.15. As a result, the overall trend for ADA/USD is still unclear.

We may see Cardano’s price recover some of its losses in the coming days. If a lower high is broken, we can anticipate bearish momentum to continue into next week.

Cardano Price Analysis: Conclusion 

Today’s Cardano price is in an upswing, according to most market forecasters. After a big drop, a new lower low was established today. Bearish momentum, on the other hand, has run its course, and we may expect a retracement in the next 24 hours.

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