As of now, Cardano (ADA) is trading around the $1.37 per ADA price. Its price has been moving this way for the past few days and it seems that it may continue with this trend. As of now, Cardano seems to be stuck between both the bullish and bearish trends.
The data from TradingView shows that the price of Cardano has been revolving around the 20-day EMA, which is $1.37. This means that either of the parties can steer the situation in their favor in the upcoming days.
According to high price predictions, the bulls may try and push the price of Cardano higher. They may try and push its price in the upward direction, bringing it up to $1.59 per ADA.
The data shows that the $1.59 per ADA price would prove to be a strong resistance mark for Cardano. At this point, the bulls will need to push hard against the bears and try to make a difference with their increased force.
If the bulls manage to push through the bears’ resistance, they will then increase their buying power in order to push their price even higher. They will need to increase the buying power to push its price higher.
The bulls will increase their buying power in order to bring its price all the way up to $1.85 per ADA. The particular figure is going to be yet another major pushing point for ADA.
The investors will continue pushing harder to bring its price all the way up to $2.00 per ADA. It would be one of the major resistance marks for Cardano.
On the other hand, the bears may increase their selling power in order to plunge ADA’s price even lower. The bears are expected to put a lot of pressure on the bulls with their selling power and pull their price lower. They will continue with their selling rally in order to pull the price of ADA below the $1.30 price.
If they manage to do it, they will increase their selling power in order to make the situation more difficult for the bulls. Their constant pressure would continue pulling the price of ADA lower. The next target of the bears would be to pull the price of ADA all the way down to $1.10 per ADA.
If the bear manages to bring the price of ADA all the way down to $1.10, their next target would be to bring its price even lower. The bears will be able to pull the price of ADA lower by increasing their selling power. This way, the price of ADA will come all the way down to $1 per ADA.