Cardano’s Price Is Geared To Attempt 30% Move in Coming Weeks -Breaking
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Cardano’s Price Is Geared To Attempt 30% Move in Coming Weeks- ADA’s price has risen by 1.85% in the last 24 hours.
- Cardano’s weekly price movement is also in the green.
- In the next few weeks, we could witness a move of 30%.
Historically, we have seen Cardano’s (ADA) price explode into a bullish rally during hard fork events. ADA could be poised for a 30% increase with the Vasil HardFork just around the corner.
As things stand, Cardano (ADA) is number 6 on CoinMarketCap’s list of the biggest crypto projects, with a market cap of $22.05 billion. This places ADA below (BNB) at $47.18 Billion and above (19.38 Billion) at XRP with a $22.05 billion market cap.
ADA’s 24-hour performance shows that it has gone up 1.85% in 24 hours. Its price now stands at $0.6511. ADA’s price is also up in the past seven days by 13.37%. This makes it the only coin that has posted double-digit gains in the last week on CoinMarketCap’s top 10 list.
The main reason for Cardano’s weekly price performance is the build-up to the next major hard fork event, called the Vasil Hard Fork. Historically, prices for ADA pumps have been higher at hard fork events, so it seems that this year will not be any different.
ADA nears 9MA (Source : TradingView
The weekly chart of ADA indicates that the price has posted a positive week and appears to be in good shape to finish this week. The 20 MA Line, currently at $0.8532, will be next in line if ADA crosses above its 9 MA line. It will move by just over 30%.
The current RSI line relative to the RSI SMA lines is a bullish indicator. The RSI SMA line is now above it on the weekly charts. However, the line is still sloping positively. This signalizes that ADA is ready for a bullish movement on the weekly chart.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.
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