Cardano News Today – Cardano has been trading in green over the last week and the bulls will most likely retain their control over the market. This time last week, the Cardano ADA token was struggling in the $0.032 – $0.034 range. Even after the release of the Byron reboot, the price of Cardano didn’t make any significant progress against the USD. However, when the bulls came to the market, they started pressing forward and have not given the bears the chance to come back into the market since then as stated in our Cardano news yesterday.
In our last Cardano price prediction, we talked about how the token was heading to the $0.050 level and how higher highs will be reached if the token maintained its bullish hold against the USD in the market. Since then the price of Cardano ADA has continued to surge crossing key support levels as they approach the $0.050 level. At the time of writing, the token was trading at $0.048299 this means that it is up by 1.52% against the USD and down by 1.02% against the Bitcoin BTC. The trading volume over a 24 hour period is $130,019,416 and the market capitalization is $1,252,239,619.
Cardano (ADA) Price Today – ADA / USD
The token successfully crossed the $0.0481 level which was a key resistance yesterday. Now, the new resistance levels are at $0.050 and one more at $0.053. At the same time, the key support levels are at $0.0470, $0.0441, and $0.0372. The current price reflects a 35% surge in the price of Cardano ADA in just 7 days. On Monday, the token opened the trading day at $0.0456 level. Before the token reaches the $0.0500 level, there is a chance that the token will face rejection and move lower briefly before regaining higher highs near-term.
The technical charts prove that the Cardano ADA token is most likely going to break the support at the $0.0470 in a bullish retreat. However, the downtrend will be followed by another surge against the USD. It will give the ADA the momentum it needs to take the price higher and higher against the USD. Before the end of the week or by the weekend, the token will most likely test $0.050 and move higher against the USD.