• info@parsalandco.com
  • +989124000464
  • +989127093613
  • Home
  • Startups
  • Departments
    • Application Software Department
    • Architecture Department
    • Construction Department
    • Cryptocurrency Department
    • Decoration Department
    • Digital Investment Department
    • E-Commerce Department
    • Electronic Department
    • Energy Saving Department
    • Health Department
    • IOT Department
    • Mechanical Department
  • Top Projects
    • Green Power Generator
    • Green Marketing
    • Smart Animal Husbandry
  • Blog
  • about us
    • Ethics charter
Menu
  • Home
  • Startups
  • Departments
    • Application Software Department
    • Architecture Department
    • Construction Department
    • Cryptocurrency Department
    • Decoration Department
    • Digital Investment Department
    • E-Commerce Department
    • Electronic Department
    • Energy Saving Department
    • Health Department
    • IOT Department
    • Mechanical Department
  • Top Projects
    • Green Power Generator
    • Green Marketing
    • Smart Animal Husbandry
  • Blog
  • about us
    • Ethics charter

Cardano Price Prediction: A Healthy Correction is Likely Now

Home » Blog » Cardano Price Prediction: A Healthy Correction is Likely Now

Tesla’s latest purchase of Bitcoin worth $1.5 billion
Bitcoin: Here’s why $50,000 will come sooner than expected
February 9, 2021
Top 3 Price Prediction
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin bull run pauses while selected altcoins on fire
February 10, 2021
February 10, 2021
Categories
  • Blockchain
Tags
  • analysis
  • Cardano
  • Price Evalu
Cardano Price

Cardano Price

Cardano price has been in a strong rally. However, a closer look shows that it is extremely overbought and that the price could pullback.

The Cardano price has been unstoppable lately. The ADA price has risen for the past six consecutive days and by 92% in the past 7 days. This surge has brought its total market cap to more than $25 billion, making it the fourth-biggest cryptocurrency in the world after Bitcoin, Ethereum, and Tether. It has also displaced Polkadot and Ripple.

Cardano news: Cardano price has surged recently because of the overall strong performance of cryptocurrencies in the past few days. This surge started when Elon Musk revealed that Tesla had bought about $1.5 billion worth in Bitcoin.

The company will also start accepting Bitcoin in the future after getting regulatory approvals. In most cases, a surge in Bitcoin usually leads to a rally of other digital currencies.

There are other reasons why ADA price has rallied. First, Cardano recently completed its Mary hard fork meaning that it is getting close to its Goguin era. That was the first of two hard forks that are scheduled. Later this month, another upgrade will come online, transforming Cardano into a majo player in the DeFi ecosystem.

Cardano price outlook

A few weeks ago, I wrote that ADA was on the cusp of a bullish breakout to $0.46. The result was better than that as the currency soared to an all-time high of $0.833. On the daily chart, the currency is still above the moving averages. It also completed its bullish pennant formation that I wrote about earlier.

However, oscillators like MACD and the Relative Strength Index (RSI) shows that the price is getting overbought. Therefore, while the uptrend to $1 will likely continue, we should not rule-out a healthy correction in the near term. If it happens, the level to watch will be $0.60.

Source: Trading View

Source: InvestingCube

Related Post

  • Ethereum Price Evaluation
  • Bitcoin held by public companies has surged 400% in 12 months to $3.6 billion
  • BITCOIN (BTC/USD) AND ETHEREUM (ETH/USD) PRICE ANALYSIS AND CHART:
  • Bitcoin price hits $36,800 shortly after Ethereum closes above $1,500
  • Bitcoin: Here’s why $50,000 will come sooner than expected
Share
85
Negin Rezaei
Negin Rezaei

Related posts

Nano Water Chip

Nano Water Chip

April 9, 2023

Nano Water Chip


Read more
January 30, 2023

Opportunity job in The Metaverse


Read more
Euphoria Spa

Euphoria Spa

January 16, 2023

Euphoria Spa


Read more
Neuralink brain chip
January 14, 2023

Neuralink brain chip


Read more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About Us

Parsaland Trading Company with many activities in the fields of import and export, investment consulting, blockchain consulting, information technology and building construction

Departments

  • Application Software
  • Architecture
  • Construction
  • Cryptocurrency
  • Decoration
  • E-Commerce
  • Electronic
  • Energy Saving
  • Health
  • IOT
  • Mechanical

Quick Link

  • Home
  • Startups
  • Blog
  • About Us

Contact Us

  • +989124000464
  • +989127093613
  • info@parsalandco.com
  • parsalandco-company
  • parsalandco_com
  • parsalandco_com