thenewscrypto.com
- Bullish ADA price prediction ranges from $1.6 to 4.92.
- ADA price might also reach $5 soon.
- ADA bearish market price prediction for 2021 is $1.3.
In Cardano coin (ADA) price prediction 2021, we use statistics, price patterns, RSI, and much other information about ADA to analyze the future movement of the cryptocurrency.
Cardano is a third-generation public blockchain and DApp development platform3. More so, the platform has gained attention from international media as the first blockchain to include peer-reviewed research. ADA is the native token of Cardano. ADA is one of the top crypto in the market.
Third-generation cryptocurrencies learn the lesson from Bitcoin and Ethereum and improve upon their shortcomings. However, the third generation cryptos such as ADA use new developments such as layered design to improve scalability, security, and flexibility. In this way, they develop more benefits, eliminate failures and eliminate inefficiencies.
According to CoinGecko, the ADA coin price is trading at $1.41 with a 24-hour trading volume of $2,648,389,377, at the time of writing. However, ADA has decreased by 7% in the last 24 hours.
Moreover, ADA has a circulating supply of 32,066,390,668 ADA. Currently, ADA trades in cryptocurrency exchanges such as Binance, Huobi Global, OKEx, ZG.com, and CoinTiger.
Cardano (ADA) Price Prediction 2021
Cardano (ADA) holds the 5th position on CoinGecko right now. ADA price prediction 2021 explained below with a daily time frame.
The above chart shows the Symmetrical Triangle patterns. Generally, A symmetrical triangle is composed of a downward diagonal upward trend line and an upward diagonal downward trend line. When the price rises, it will inevitably break through the upper trend line to break, and in an uptrend, the price will rise or break. A lower trend line that forms a breakthrough and a downward trend in which prices fall.
In the daily time frame chart, if the price of the ADA breaks the resistance level of $1.6, it will reach the target of $1.8 and $2.4. Or else, if the price of the ADA breakout the support level of $1.3 means it will fall to the next support level at $1.18 and $1.10. So, the trend of the ADA is based on the breakout.
ADA Support and Resistance Level
The below chart shows the support and resistance level of ADA.
From the above daily time frames, it is clear the following are the resistance and support level of ADA.
- Resistance Level 1 – $9.30
- Resistance Level 2 – $4.92
- Resistance Level 3 – $2.52
- Support Level 1 – $0.89
- Support Level 2 – $0.40
- Support Level 3 – $0.16
The charts show that ADA has performed a bullish trend over the past month. If this trend continues, ADA might run along with the bulls overtaking its resistance level at $9.30.
Conversely, if the investors turn against the crypto, the price of ADA might plummet to almost $0.16, a bearish signal.
Cardano Coin (ADA) Average Directional Index (ADX)
Now let’s look at the average directional index (ADX) of ADA. Generally, the Average Direction Index (ADX) helps traders determine the strength of a trend, rather than its actual direction. It can be used to determine whether the market is changing or a new trend is starting. It is associated with the Directional Movement Index (DMI) and basically includes the ADX line.
The range of the oscillator is from 0 to 100. A high value indicates a strong trend, and a low value indicates a weak trend. It is often combined with directional indicators.
The above chart shows the ADX of ADA stays above the range of 21, so it indicates a sideways trend.
Conclusion
The ADA is one of the cryptos that keeps its ground against the bearish market. Furthermore, our long-term ADA price prediction 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $2.45 this year. However, this will only happen if it breaks many past psychological resistances.
Furthermore, with the ongoing developments and upgrades within the ADA ecosystem, it could experience a great future ahead in 2021. It may reach $5 soon and it might even reach high heights, however reaching $9.30, if investors have planned that ADA is a good investment in 2021.