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A Pretty Bullish Case Emerges For Cardano Price, Is $2 On Cards?

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Cardano May Hit $3 Soon!

Cardano price rally is among the most favoured rally since the beginning of 2021, which escorted the price more than 1500%. However, after reaching its peak, most of the assets slided down at greater pace amid the market slash. ADA prices too experienced a similar trend revisiting much lower levels yet stood strongly above $1.

Cardano May Hit $3 Soon!

Cardano price rally is among the most favoured rally since the beginning of 2021, which escorted the price more than 1500%. However, after reaching its peak, most of the assets slided down at greater pace amid the market slash. ADA prices too experienced a similar trend revisiting much lower levels yet stood strongly above $1.

However, with the recent price movement forecasted a possible bullish momentum for the ADA price. Unlike the other assets, Cardano rejected being within the consolidated range, attempting multiple times to propel higher. And hence a bullish scenario for ADA with upper ATH at $3.12 may be incoming.

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As predicted by a popular analyst, RESEARCH 24/7, the Fibonnaci levels are formed around $1.99 and $1.65. Therefore clearing the barriers towards the new and higher ATH levels somewhere above $3.

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Also Read:ADA Price Will Surprise the Traders! Three Reasons Why “Cardano Summer” Will Be a Hit!

ADA Price Analysis

The price reached its highest levels in the recent past by hitting levels close to $2.5. However, despite a strong tendency, the ADA price failed to keep up bullish momentum and plunged to some extent.

However, the price still attempted very hard to rise and attained $1.8 levels a couple of times, yet rejected again. In the times of a strong pullback, the price currently is sustained strong above $1.5, and hence may propel high very soon.

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cardano chart

One of the bullish indicators is the jump in the trading volume of about 31.74% recording more than $5 billion. And hence the increased activity may also uplift the price to the next levels in coming days.

At the time of writing, the cardano price is $1.54 with a jump of 1.23% since the past 24 hours. However, the asset is expected to swell high and reach the upper resistance levels shortly.

Technical Specifications

  • The resistance levels are at $1.84
  • The support levels are at $1.42
  • The indicators are currently neutral that may flip towards a buy signal soon.

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