Cardano Price Analysis, Be Prepared for These Levels If the Historical Pattern Repeats: Ali Martinez!

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Cardano It is the highest-rated smart contract blockchain with a total Value Locked (TVL) of more than $335 million. In this context, it has recently attracted the attention of cryptocurrency investors. The Cardano ecosystem has deep liquidity, with ADA and supported web3 tokens listed on major crypto exchanges such as Binance Holdings and Coinbase Global.

Koinfinans.com As we reported, ADA also has a volume-to-market capitalization ratio of approximately 2.37. Since this figure has increased in the last few months, it shows that liquidity has increased.

Cardano Price Analysis

a popular one crypto- analyst Ali Martinez according to, ADA’s price gradually reflects the 2020 price movement. As a result, the crypto analyst expects ADA price to reach 80 cents in the near term and eventually rise towards $7 during this bull cycle.

From a technical perspective, altcoin The price encountered a significant resistance level around 67 cents coinciding with the 200-week Moving Average (MA). Meanwhile, if the bulls fail to defend the support level around 47 cents, ADA price is on the verge of falling towards the support/resistance range between 40 cents and 45 cents. Already, the weekly Relative Strength Index (RSI) has fallen below the 70 level, which strengthens the bears in the near term.

Although it is a scalable Ethereum blockchain that uses a proof-of-stake consensus mechanism, Cardano’s core development team, led by Input Output Global’s Charles Hoskinson, is working on secure and highly efficient second-layer solutions such as the Hydra project. Additionally, the Cardano network hosts dozens of decentralized financial (DeFi) platforms such as Indigo CDP, Minswap DEX, and Liquid lending.


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