Cardano are trading at 0.4314 and continue to move as part of the correction and the formation of the “Triangle” pattern. The capitalization of the Cardano cryptocurrency at the time of the publication of the forecast is $13,409,878,898. Moving averages indicate a short-term bullish trend for Cardano. Prices are again testing 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. As part of the cryptocurrency rate forecast for February 5, 2021, we should expect an attempt to develop an asset price correction and test the support level near the 0.4220 area. Where can we expect a rebound again and continued growth in the rate of the Cardano digital asset with a potential target above the level of 0.5205.
Cardano Forecast and Analysis ADA/USD February 5, 2021
An additional signal in favor of the growth of quotations of the digital asset ADA/USD is a test of the trend line on the relative strength index (RSI). The second signal in favor of raising the ADA/USD quotes will be a rebound from the lower border of the “Triangle” model. Cancellation of the growth option for the Cardano cryptocurrency on February 5, 2021 will be a fall and a breakdown of the 0.3905 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the 0.3205 area. With the breakdown of the resistance area and closing of quotations above the level of 0.4605, we should expect confirmation of the development of an upward trend in Cardano and a breakdown of the upper border of the “Triangle” model.
Cardano Forecast and Analysis ADA/USD February 5, 2021 suggests an attempt to test the support area near the 0.4220 level. Where can we expect a rebound and continued growth in ADA/USD to the area above the level of 0.5205. An additional signal in favor of a rise in the Cardano digital asset 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 0.3905 area. This will indicate a continued fall in the cryptocurrency with a potential target below the level of 0.3205.
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