Cardano spikes by 5% as seen on the daily price chart
\nBulls likely to touch bullish triangle from $0.67 to $0.69
\nADA at risk of retreating to $0.50<\/p>\n
Cardano (ADA) price is looking straightforward bullish today bouncing back from yesterday\u2019s dip. However, the price isn\u2019t completely out of risk. ADA plunged to roughly $0.5067 yesterday and then increased to more than 5% shooting to $0.5401 today.<\/p>\n
ADA Price Spikes By 5.41%<\/p>\n
According to CoinMarketCap, ADA price has spiked by 5.41% or $0.5394 as of this writing. Cardano\u2019s price is largely influenced by July\u2019s US CPI data which could stir volatility in the crypto market. <\/p>\n
Bulls are eyeing the ascending triangle circling around the range of $0.67 to $0.69 with the possibility of a slump right under the support line of $0.51.<\/p>\n
With the major cryptocurrencies registering remarkable gains, Cardano and other altcoins are also showing an upward trend. Bitcoin has surged by 2% reaching $23,600 while Ethereum pumped its price by 8% or to $1,800. <\/p>\n
Notably, DOGE also rose to $0.07, and XRP spiked by 3% or $0.37 in the same way as SOL pumped price by 3%.<\/p>\n
The 34-hour chart for ADA price shows that it was able to come back strong from its downturn yesterday. But, its current price remains to hover above the 21-day EMA that offers support at $0.5080. <\/p>\n
Judging by the 24-hour chart, ADA is seen to ride by the buying action hoisted by an uptrend that\u2019s been happening since July. ADA price has recently formed an ascending triangle pattern with a breach seen at $0.55 that could jump near the resistance zone from $0.67 to $0.69.<\/p>\n
Cardano Trading Volume Surges By 17%<\/p>\n
In addition, the 24-hour RSI is seen to surge to 56.7 following amplified buying activity. Trading volume has also increased by 17% seen in the past 24 hours. More so, the MACD curve shows a bearish divergence. A downtrend can bring the ADA price spiraling down to $0.50 and also creeping into the 50DMA spotted at $0.48.<\/p>\n
Cardano is showing a bullish movement targeting $1.00.\u00a0 Cardano price may explode and increase making it extremely profitable for traders. Cardano price was observed to be rocky since May 2022 but the so-called Ethereum killer may have turned the tables around this July.<\/p>\n
From a technical standpoint, a breaking point at $0.56 could trigger a profitable point for ADA price to make 100% profit closing down to $1.00.\u00a0 A crypto bull run may be induced with FOMO shooting for $1.25.<\/p>\n\n
ADA total market cap at $18 billion on the daily chart | Source: TradingView.com<\/p>\n
Featured image from Coinpedia, Chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Cardano spikes by 5% as seen on the daily price chart
\nBulls likely to touch bullish triangle from $0.67 to $0.69
\nADA at risk of retreating to $0.50<\/p>\n
Cardano (ADA) price is looking straightforward bullish today bouncing back from yesterday\u2019s dip. However, the price isn\u2019t completely out of risk. ADA plunged to roughly $0.5067 yesterday and then increased to more than 5% shooting to $0.5401 today.<\/p>\n
ADA Price Spikes By 5.41%<\/p>\n
According to CoinMarketCap, ADA price has spiked by 5.41% or $0.5394 as of this writing. Cardano\u2019s price is largely influenced by July\u2019s US CPI data which could stir volatility in the crypto market. <\/p>\n
Bulls are eyeing the ascending triangle circling around the range of $0.67 to $0.69 with the possibility of a slump right under the support line of $0.51.<\/p>\n
With the major cryptocurrencies registering remarkable gains, Cardano and other altcoins are also showing an upward trend. Bitcoin has surged by 2% reaching $23,600 while Ethereum pumped its price by 8% or to $1,800. <\/p>\n
Notably, DOGE also rose to $0.07, and XRP spiked by 3% or $0.37 in the same way as SOL pumped price by 3%.<\/p>\n
The 34-hour chart for ADA price shows that it was able to come back strong from its downturn yesterday. But, its current price remains to hover above the 21-day EMA that offers support at $0.5080. <\/p>\n
Judging by the 24-hour chart, ADA is seen to ride by the buying action hoisted by an uptrend that\u2019s been happening since July. ADA price has recently formed an ascending triangle pattern with a breach seen at $0.55 that could jump near the resistance zone from $0.67 to $0.69.<\/p>\n
Cardano Trading Volume Surges By 17%<\/p>\n
In addition, the 24-hour RSI is seen to surge to 56.7 following amplified buying activity. Trading volume has also increased by 17% seen in the past 24 hours. More so, the MACD curve shows a bearish divergence. A downtrend can bring the ADA price spiraling down to $0.50 and also creeping into the 50DMA spotted at $0.48.<\/p>\n
Cardano is showing a bullish movement targeting $1.00.\u00a0 Cardano price may explode and increase making it extremely profitable for traders. Cardano price was observed to be rocky since May 2022 but the so-called Ethereum killer may have turned the tables around this July.<\/p>\n
From a technical standpoint, a breaking point at $0.56 could trigger a profitable point for ADA price to make 100% profit closing down to $1.00.\u00a0 A crypto bull run may be induced with FOMO shooting for $1.25.<\/p>\n
ADA total market cap at $18 billion on the daily chart | Source: TradingView.com<\/p>\n
Featured image from Coinpedia, Chart from TradingView.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-5387","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/5387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=5387"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/5387\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=5387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=5387"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=5387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}