Cardano (ADA) Its price has been stuck in a “horizontal band” since the last days of September. When the ADA chart is examined closely, it can be seen that there is an increase in the volume on the “buy” side, but can this increase trigger a rise in Cardano price?
On the Cardano (ADA) side, the RSI index continues to rise towards 50, while the volume on the buy side is increasing. With the help of outside support, ADA seems to have targeted $2.74 in the first phase.
When the overall performance of Cardano (ADA) price in October is analyzed, a picture stuck between 2.0-2.4 dollars is seen. In the table where neither the bulls nor the bears were dominating, sufficient support and resistance levels could not be caught. More recently, the Relative Strength Index (RSI) has managed to climb above 50 again, proving that the volume on the buy side has increased. Following this output ISLAND The price seems to be targeting $2.40 in the first phase and then $2.74.
Cardano Price To Start An Uptrend To $3.16
The dominance of the bulls in the ADA market will of course not limit itself to $2.74. If the bulls continue to maintain their strength, it looks like a $3.16 level is targeted in the future without delay.
Cryptocurrency current positive wave in units and the Nasdaq, Tesla and Elon MuskWith the help of some headwinds from ADA, the dominance of the bulls in ADA price is expected to increase with each passing day. All effects seem likely to first break above $2.40 and then start an uptrend towards $2.74.
ISLAND As long as the price offers sufficient entry points for new buys and small profits, it is not expected that it will take long for the bulls to push it to $3.16 and hit all-time highs.
ISLANDSince the uptrend in Turkey is mostly dependent on external influences, a negative news from outside influences can negatively affect the ADA price very quickly. In this case, a retracement of around $1.90 towards the lower end of the bandwidth around $2.00 can be expected for a possible retest. If the sensitivity of ADA price turns purely risk-averse, a drop towards $1.67 is possible in the near term.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.