{"id":851,"date":"2021-04-14T12:37:00","date_gmt":"2021-04-14T16:37:00","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=851"},"modified":"2023-11-09T11:51:50","modified_gmt":"2023-11-09T16:51:50","slug":"cardano-price-prediction-after-struggling-above-one-dollar","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/cardano-price-prediction-after-struggling-above-one-dollar","title":{"rendered":"Cardano Price Prediction of $2.4 After Struggling Above $1 on Low Volatility"},"content":{"rendered":"\n
\"Cardano
Cardano Price Struggles Above One Dollar On Low Volatility<\/figcaption><\/figure>\n\n\n\n

The Cardano price is ebbing judging from price action in the daily chart.<\/p>\n\n\n\n

While the uptrend is defined and ADA\/USD traders expect a moonshot, sellers prevent bulls from pushing higher, resulting in consolidation.<\/p>\n\n\n\n

Most notably, prices continue to consolidate within a $0.56 range with clear caps at $1 on the downside and $1.56 on the upside.<\/p>\n\n\n\n

As of writing on Apr 12, the ADA price is trading at $1.30<\/a>, adding 10 percent on the last trading week.<\/p>\n\n\n\n

On the brighter side, ADA trading volumes are relatively high, rising 89 percent on the last day of trading to $4.49 billion.<\/p>\n\n\n\n

Cardano Price Overview<\/h2>\n\n\n\n

Aforementioned, the uptrend is clear as ADA\/USD price is within a bullish breakout following sharp gains in late Jan 2021.<\/p>\n\n\n\n

From the weekly chart, the ADA price is within a $0.56 zone with caps at $1 and $1.56 as bears press lower, draining ADA bulls’ momentum.<\/p>\n\n\n\n

Perhaps the most distinct development is the long upper wicks suggesting liquidation in lower time frames. Buyers must build enough momentum and rip above the $1.30 and $1.56 zone for a trend continuation.<\/p>\n\n\n\n

On the flip side, if Cardano bears take charge, forcing prices below $1, odds of deeper, protracted correction to the middle BB\u2014even worse $0.40, could be on the offing.<\/p>\n\n\n\n

Cardano Market Movers<\/h2>\n\n\n\n

Cardano is a smart contracting platform led by peer-reviewed research but still in development. Its native currency is ADA.<\/p>\n\n\n\n

There have been steps towards Goguen and smart contracting as IOHK continues to activate several HFCs towards that end. Alonzo HFC is the latest.<\/p>\n\n\n\n

Confidence is on the IOHK and Cardano Foundation team:<\/p>\n\n\n\n

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The potential of #Cardano<\/a> is endless since the IOHK team will gradually improve it. It is the biggest fundament for future success. pic.twitter.com\/oPZXX70Yv0<\/a><\/p>— Cardanians (CRDN) (@Cardanians_io) April 9, 2021<\/a><\/blockquote>