Price Prediction for Cardano
The rebound of Cardano
€0.6831
from the 20-day SMA ($0.78) faces selling at the upper resistance of $0.86.
Daily candlestick chart of the ADA/USDT pair.
The ascending 20-day SMA and the RSI in positive territory indicate an advantage for the bulls. A breakout above $0.86 could drive the ADA/USDT pair up to $0.94. Sellers will attempt to halt the bullish movement at $0.94, but if the bulls prevail, the pair could surge to $1.02 and then to $1.17.
The short-term advantage will tilt in favor of the bears if the price continues to drop and falls below the 20-day SMA. This suggests profit-taking on the rallies. The pair could then fall to the 50-day SMA ($0.67).
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