- Today’s Cardano price analysis is bullish after a 0.654 percent surge
- ADA/USD traded within a daily range of $2.43 – $2.63.
- Cardano price action has witnessed bullish patterns in the past 4 -weeks.
Today’s Cardano price analysis is bullish after a 0.654 percent continuation to the $2.5106 region. Cardano bounced from a daily low of $2.3810, thereby defending the bulls from sinking below the $2.00 support. We expect to see more gains in the next 24 hours as buyers sustain the momentum and strongly defend the overhead demand zone.
Cardano price movement in the last 24 -hours: Will bulls expand the range with higher lows and higher highs?
According to our Cardano price analysis, ADA/USD traded within a daily range of $2.43 – $2.63. Such a tight range suggesting low volatility across the daily chart. Cardano’s trading volume faced a 21.40 percent plummet to a total of $5.28 billion. The total market capitalization stands at $84.7 billion after a 5.10 percent surge in the last 24 hours.
4-hour Cardano Price Analysis: Bulls aim for $3.00
On the 4-hour Cardano price analysis, DOT/USD is trading upwards as bulls attempt to cross into the $2.6 region. Bulls have their eyes focused on the $3.00 upper target and are working against time to build momentum and get there soon. The bulls seem persistent to set a new high on the 24-hour chart, but their attempts are being met by take-profit traders.
Cardano price action has witnessed bullish patterns in the past 4 -weeks. This was after the coin underwent a rapid swing low in June to the $0.95 mark ahead of rallying by approximately 200- percent to the press time price of $2.50.
ADA/USD did not have a good start into the week following a 20 percent retracement to the $1.7 support mark. The bears are still acting against the upper support levels and persistently want the price to retest this mark. Nonetheless, Cardano’s price action hit a higher low at that point, and the altcoin’s market has been consolidating above it for the past 48-hours.
Cardano price analysis conclusion
Cardano price analysis is bullish as a strong rally was seen yesterday, and the market price currently trades just near the $2.64 mark. Therefore, we expect ADA/USD to swing higher later today and target the $2.68 mark next.While waiting for ADA/USD to move further, read our articles on Decentralized Exchanges, Bitcoin Futures, and NFT Marketplace.
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