ADA Witnessed Relentless Rally!
Cardano users have been having a great time for the past few weeks. ADA witnessed a relentless rally in the overnight session as the demand kept on rising. If we talk about the latest figures, Cardano (ADA) is trading at $2.7970. Here, it is important to mention that this rise is more than 175% from its lowest level as witnessed by Cardano users in July. In the ongoing scenario, the picture is quite positive for ADA. While this may be valid, many ADA users are also uncertain about the current status keeping in view the July timeframe progress. Let’s have a look at the Cardano price prediction below.
ADA Demand Rise
The rapid rise in the demand for ADA is based on several reasons. One of the key reasons is the recent stance taken by the developers to provide a status update on deployment in Ethiopia. As mentioned in a recent interview, Charles Hoskinson stated that they will deliver an update in the second half of the year. While this may or may not be a reason strong enough to result in the scorching high demand of ADA, it is important to remember how the crypto market works. Read the prediction below to figure out what’s happening to Cardano in the coming days.
ADA Closing Price August 22, 2021
The closing price of ADA as of yesterday was $2.7137.
ADA Opening Price August 23, 2021
Cardano opened today at the price of $2.7237.
24-Hour High (Today)
For those looking to trade ADA in today’s date and who want to know the 24-hour high range, we have gathered accurate figures to help you analyze the market before you trade.
The highest expected range for today as per the technical analysis of the crypto market is $2.8641.
24-Hour Low (Today)
If you want to know the lowest price that ADA can hit today, here is the correct figure to help you out.
As of the moment, the expected lowest range of ADA today is $2.6938.
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Cardano Price Prediction
At this moment, Cardano users are already aware of the fact that the ADA price jumped over the key resistance level at $2.4760 – the previous all-time high. While this may be true, the price of ADA also moved above the 25-day and 50-day EMA. If the momentum of the market continues to follow this trend, we can foresee the next key level to be at $3. However, the all-time high price was along the upper part of the cup and handle pattern. This means that we can expect a pullback if the ADA forms the handle section on the chart.