Cardano are trading at 2.8617 and continue to move as part of the rise and the formation of the ”Triangle” pattern. The capitalization of the Cardano cryptocurrency at the time of the publication of the forecast is $66,936,398,869. 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 2.5505 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 3.7005.
Cardano Forecast and Analysis ADA/USD September 1, 2021
In favor of the growth of quotes and the ADA/USD rate, a test of the trend line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower border of the ”Triangle” pattern. Cancellation of the coin growth option will be a fall in the value of the asset and a breakdown of the 2.4505 area. This will indicate a breakdown of the support area and a continued fall in the cryptocurrency rate with a potential target below the level of 1.7555. With the breakdown of the resistance area and closing of quotations above the level of 3.0005, we should expect confirmation of the development of the ”Triangle” model.
Cardano Forecast and Analysis ADA/USD September 1, 2021 suggests an attempt to correct and test the support area near the level of 2.5505. Where can we expect a rebound and continued growth in ADA/USD to the area above the level of 3.7005. 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 2.4505 area. This will indicate a continued decline in cryptocurrency with a target below 1.7555.
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