Cardano Price Analysis: ADA consolidates to $2.14

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ADA has consolidated at the $2.14 dollars level, preparing for an upward move to the next resistance level.

Cardano chart analysis is looking bullish as a slightly higher low has been established at the $2.14 price level, after it reached a higher high (HH) at $2.30 price level making it become an up-trending market. We expect ADA to gain more price increase in the following week.

The crypto currency asset made sideways movement as its price traded between $2.13 – $2.17, which shows low volatility over the last 24 hours, as the trading volume has declined by 22.37 percent and is about $2.03 billion according to coin-market cap. A price breakout from the range is likely to occur over the next 24 hours as we are entering into the new working week where there would be a likely increase in trading activities.

Checking the 4 hours chart, we can see that there is a strong/major resistance at the $2.30 price level and a major support at the $2.10 price level, therefore a breakout above the $2.30 resistance level would see price going upwards about another 30% while a breakdown of price below the $2.10 level would see the ADA token making more further downward movements.

Disclaimer: The information provided above is not a trading or financial advice but our outlook into the market therefore kudicast holds no liability for any investments made based on the information provided on this page. We strongly advice that individual research be carried out with other professionals before making investment decisions

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