- summary:
- The price of Cardano has increased every day from the past five days, and the basics and technical standards indicate the continued direction.
Cardano PRICE extends its upward trend to five consecutive days, as it gained 1.1 % for trade at $ 0.82 late on Friday. The currency opposed the trend in the broader market and gained 16 % last week. Return to the $ 1 $ 1 sign during the weekend can operate it for the strongest in the new week against the backdrop of the broader market in the last two days.
There was a noticeable height in the ADA whale activity. T. Cardano Price is attributed to the GrayScale Fill for the Ada ETF building earlier this week. This indicates a great institutional interest in the encryption currency. The primary fear of lost feelings (FOMO) is likely to maintain the price in the short term.
The ADA Price Uptrend case is also supported by a strong trading volume. Despite the high price of the double number in the past five days, investors are still storing the currency. Its trading volume increased over 24 hours by 6 % to this writing, confirming the strong bullish feeling.
Also, the average trend index (ADX) on the Cardano Price graph for 4 hours at 25.8, while the RSI 63 read. These indicators show a strong direction, adding credibility to the possibility of more gains.
Adausd scheme for 4 hours
Cardano prediction
The money flow index (MFI) reads on the price of Cardano preferred buyers to stay control over the PIVOT mark at $ 0.797. The first resistance trend may meet the first resistance at $ 0.833. However, the expanded control by buyers will break this level and may test the next obstacle at $ 0.870.
Instead, the downside will prevail if the price decreases to less than $ 0.797. This first support that was created at $ 0.764 can witness. The thesis of the upward trend will become uncomfortable if the price rises from it. In addition, this momentum can test the second support at $ 0.715.
