Cardano price analysis is showing a bullish triangle forming as the currency is in sway along with the major cryptocurrencies.
One of the major players in top twenty cryptocurrencies Cardano has been the underdog of the lot largely taking its lead from the king, Bitcoin.
Cardano price chart created with Trading View
The ADA/BTC pair price analysis reveals that the Cardano price is now forming a bullish triangle after trading low against BTC price for the last few days. Currently, Cardano price against Bitcoin stands at 0.00000789BTC while it is expected to go as high up as 0.00000900BTC.
The Relative Strength Index (RSI) is currently trading in the oversold zone, however, historically Cardano price forms a bullish trend when the RSI is in the oversold zone.
Cardano price has been fluctuating in a ball dance with the king of cryptocurrencies the Bitcoin. Cardano price has had the pleasure to touch the year-to-date high point at $0.105 on the 26th of June.
The same day Bitcoin price had hit the year-to-date high point of thirteen thousand and eight hundred dollars ($13,800).
ADA/USD pair is currently trading at $0.083 while the price has been in a sway since 26th of June. The Cardano price fell down as far as $0.080 today, however, quickly recovered to its current trading price.
On the other hand, the current bullish forms can take shape properly Cardano (ADA) price can hit as far up as $0.1 again. However, it seems unlikely that the price would hold since Bitcoin is now back down to the ten thousand dollars ($10,000) range.
