Cardano Price Analysis (ADA/USD)

The price of ADA/USD pair has recorded an impressive price recovery over the intraday.  The price-performance is bullish with an upsurge gain of 11%. The market escalated from where it closed yesterday at $0.04719 where it is currently trading at $0.05027.

Additionally, the market began the session with a bullish pressure that sharply shifted the momentum up to rally at a high of $0.05126.  The RSI indicator that moved at around 08:30 to 17:00 up from a low of 50 to a high of 78, which is marked as a positive zone reflected the upward pressure.

A lack of dominance was later seen that was reflected by the sideways price momentum that consolidated between the key resistance level $0.05090 and support level $0.05001.  Additionally, the RSI indicator is at the press time heading north and is above level 50 that signals a bullish outlook. A breakout above $0.05010 could confirm an upward price rally.

Cardano Price Prediction (ADA/USD)

Currently, the moving averages are converging, and the 21 day MA…

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Source: https://themerkle.com/cardano-eos-and-ripples-xrp-cryptocurrency-price-prediction-and-analysis-for-august-21st-ada-eos-and-xrp/