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Cardano Has Taken A Sharp Steep Towards the Bullish Trend

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Within 1 day, ADA has taken a sharp steep towards the bullish trend and is trading currently at good peaks, but how long it can retain the same is challenging.

Introduction

Downfalls and high rise in prices will be simultaneous for altcoin like ADA coin in this extreme volatile crypto market. Cardano will always be subjected to conditions like this as it is in a high liquidity state itself. The trickiest part is that although it is trying to move up in this unfavorable market situation, it can decline at any moment without giving any hint from earlier. Moreover, one should not forget that BTC is still very turbulent and erratic. So, no matter what updates ADA brings to impress its users, the maximum of its projects is expected to crumble down due to this extremely volatile market conditions.

Cardano Price Analysis and Future Trends

From the 1-day Cardano chart, it is noticeable that it is making a sharp steep towards the bullish range since last night. After getting traded in bearish ranges for a few days, it is now moving up, but its momentum cannot be marked as “steady” keeping in mind the fact that the market condition is still the same. Yesterday, Cardano price fell to as low as 0.054039 USD, but today, it has attained a good peak of 0.060578 USD. Within a day, the price shift in ADA coin’s trend has been great enough. Based on Cardano’s pivot value, its first resistance level is 0.0604. ADA has already crossed this resistance and is expected to be in this trend for some time. Within one day, ADA price has spiked up by 10.92%. Considering all these facts, we think that in the upcoming days, Cardano may reach its next resistance level of $0.0607.

Cardano is although trying to rise in spite of the volatile market conditions but is sustenance in the same trend is not guaranteed and is expected to fall very soon. It is, therefore, better not to consider any sort of investment on the same and to wait for the right time till this volatility gets reduced.

About the author

Mary Elliott

Mary Elliott

Mary Elliott is an altcoin expert and also deals with various cryptocurrencies. She guides people on how to wisely exchange cryptocurrencies and gain profit. She loves solving puzzles and explore new places.