Cardano has become one of the finest performers of the crypto market if we consider the price trend of the last seven days that is showing us the transition into the New Year. Over this period, ADA coin has been on a constant gain totaling 12.57%. It may breach its next resistance anytime soon.
Cardano Price Analysis
ADA coin was being traded at $0.03317114 at the starting of December 31 when it weakened for two days. This variation of 2.45% pulled the Cardano price down to 0.032359 USD, the lowest for the week. It was followed by an upward movement of the value between January 02 and 05. In these three days, ADA’s price soared by 7.61% to lock itself at 0.03479692 USD. The gaining momentum took no break in between. From January 05, Cardano’s gaining spree touched another height of 10.32% that helped it to balloon up to 0.03799400 USD, the highest for the week.
The market cap of ADA coin has pursued a similar trend over the last seven days. On December 31, the market cap was 851.576 million USD and it is now hovering around 966.768 million USD.
Cardano’s current value (0.0373434 USD) has managed a lead over its 50 days MA (0.03711686 USD). However, it is still lagging behind the 20 days MA (0.03751368 USD) by a marginal change of 0.45%. The current bullish momentum is likely to stay here for some more days. As per our ADA price forecast, the coin next resistance seems likely at 0.038156 USD by the end of this week.
Resistance & Support Levels
R1: $0.03815, R2: $.03904 and R3: $0.04078
S1: $0.03553, S2: $0.03379 and S3: $0.03290
