Cardano are traded at 1.5633 and continue to move within the rally and the bullish channel. The capitalization of the Cardano cryptocurrency at the time of the publication of the forecast is $50,261,077,697. Moving averages indicate a short-term bullish trend for Cardano. Prices went up from the area between the signal lines, which indicates pressure from buyers of the asset and a potential continuation of the rise from the current levels. At the moment, we should expect an attempt to develop a correction in the value of a digital asset and a test of the support level near the 1.5205 area. Where can we expect a rebound again and a continuation of the rise in the Cardano rate with a potential target above the level of 1.7205.
Cardano Forecast and Analysis ADA/USD August 11, 2021
In favor of the growth of ADA/USD quotes, a test of the bullish trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper border of the ascending channel. Cancellation of the coin’s growth option will be a fall in the value of the asset and a breakdown of the 1.4205 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below 1.2505. With the breakdown of the resistance area and closing of quotations above the level of 1.5205, we should expect confirmation of the development of a bullish trend in Cardano.
Cardano Forecast and Analysis ADA/USD August 11, 2021 suggests an attempt to correct and test the support area near the level of 1.5205. Where can we expect a rebound and continued growth in ADA/USD to the area above the level of 1.7205. An additional signal in favor of a rise in Cardano will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 1.4205 area. This will indicate a continued decline in cryptocurrency with a target below 1.2505.
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