Cardano (ADA) price analysis: ADA is seeing positive growth can hit $0.14 Mark

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Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

Cardano (ADA) has seen a few downs in recent weeks like any other digital currency given the volatility in the crypto market. The price of Cardano (ADA) has fallen significantly after it experienced a bullish trend for a few days straight. The bullish price can because Cardano (ADA) is recently working on some upgrades like Cardano Shelley and a few others. This bullish trend can be short term. Cardano (ADA) was as low as $0.6566 two days ago.  Cardano (ADA) is presently trading at $0.0685 and showing a positive growth of 1.16%. The market cap being $1,777,166,642 and the 24 hour volume being $95,797,745. The bullish trend is kind of working for the Cardano (ADA) as the investors believe in the future of the coin.

Cardano is moving up the resistance levels at $0.12, $0.14 and $0.16 and the support levels at $0.05, $0.03 and $0.01.  The price of Cardano (ADA) is expected to rise as high as $0.7444. In the long term, Cardano (ADA) is expected to hover around $0.7. The bullish trend has caused an increase in the demand for Cardano (ADA).

The overall market is in favor of digital currency against the United States Dollar presently as the bears have lost grip of the market and the bulls have come in. The flagship coin, Bitcoin (BTC) is trading well above $5,400 and this is the main reason that will push up the price of other digital currencies as they follow the path Bitcoin (BTC). How the things unfold for Cardano (ADA) and the price of the coin reach to what level remains to be seen.

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