Cardano Price Analysis: ADA Price Gains Over 20.00%

Cardano Had Positive Momentum
  • Cardano had favorable momentum on Saturday’s trading session
  • ADA price is $1.05, which is up by 20.0% in the last 24-hour time-frame and 15.0% up from the previous week
  • ADA/BTC pair is positive with a gain of 15.0% in Saturday’s trading session (0.00001902)
Source: TradingView

Cardano had Positive momentum on the weekly chart, and it progressed up to $1.09 on February 20, 2021, while breaking over the resistance zones created in the past. ADA price framed a record of a 52-week high. Meanwhile, the trading volume of $6,845,292,662 in the last 24-hour time-frame signifies an increase in the value of 37%. The ADA/ETH pair is positive with a rate of (0.00052000) which is up by 10% in Saturday’s trading session.

Ben Goertzel is Placing artificial intelligence into decentralized Fund

SingularityNET’s founder discusses his new DAO, sci-fi degree AI coming into crypto fund, his frustration with all Ethereum, and adopt of Cardano

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Decentralized AI market SingularityNET has declared a brand new DeFi project named SingularityDAO. Modern Consensus caught up with founder and CEO Ben Goertzel through Google Hangouts to find out more about this new endeavor, his firm’s recently declared Cardano venture, and if he believes we will have superintelligent artificial intelligence.

Cardano (ADA) Technical Chart Indicates a Bullish Trend

Source: ADA/USD on TradingView

The technical chart of Cardano highlights a positive trend. In contrast, ADA price is at $1.05. According to pivot points, the critical support level for ADA is placed at $0.60. Whereas if it moves up, the key resistance levels to watch are $1.10, $1.30. While diving into the weekly chart of a 4-hour time-frame, it completes an inverted hammer candlestick pattern, indicating the bears have overwhelmed the bulls and are now in control.

Volume indicator with the amount (142.153M) exhibits a buying volume in coin. Investors can further expect an increase in buying volume in future trading sessions.

SMA-200, price is at $0.56, which acts as another reliable support in the coin. The price is above the SMA, and investors can expect a bullish trend in the coin.

MACD indicator (BULLISH), Bullish crossover over signal line detected on February 20, 2021, indicated a buy signal in the coin during the trading session. Also, it denotes the beginning green bar on Histogram.

RSI indicator (BULLISH) with a value of 69.43 indicates a buy signal in the coin, investors can witness a rise in value in upcoming trading sessions.

Conclusion 

ADA price is up by 20% on Saturday’s trading session. The price is above the SMA of $0.56. Investors may expect the movement of price towards the resistance level of $1.10 if it sustains above the price may hit $1.30 All technical indicators recommend a buy signal in the coin.

Resistance: $1.10

Support: $0.60

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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