Currently, the cryptocurrency market seems to be on an uptrend. Most digital currencies have experienced gains, for instance, Cardano gained 4% in the last 24 hours. Additionally, the coin’s price is expected to surpass $0.07 once again due to the reasons discussed below.
Cardano (ADA) finally made it above the major $0.07200 mark which tanked the price for a week now since the major decline on Sep 12th. A correction could be on its way but looking throughout the market, it is very much possible that the current level could hold as a strong support. Also, the 100 SMA is above the 200 SMA to show that the path of least resistance is to the upside. In other words, an uptrend is more likely to appear than the reverse.
Cardano’s price started materializing when bitcoin finally rebounded briefly. This is a positive sign, although it leaves us with questions of how things will turn out to be in the coming weeks. Recently, the cryptocurrency market has been quite volatile, and no improvements can be seen in sight.
However, traders still think that Cardano’s price will surpass $0.07 once again. This is due to the recent positive developments surrounding the platform such as the Yoroi web light wallet, which will be released soon. We will remain optimistic about this development and hope that its launch will boost the coin’s price above the current levels. Also, Crypto Lion believes that Cardano is one of the few platforms that will receive massive adoption since it’s among the top coins.
Price forecasts place Cardano’s price at $0.400 by the end of 2018. While it doesn’t seem as high as what is seen by other cryptocurrencies in the market, it is certainly a positive prediction.
Are you one of those who expects Cardano’s price to surpass $0.07? Share your reasons why in the comments section below