Cardano’s cryptocurrency, ADA, is one of the top 10 cryptos that shows stability, even though it was also affected by the bearish Trend of the cryptocurrencies market at the beginning of this year.
Currently, at the moment of this analysis, Cardano price is set at $0.616.
ADA price against the USD presented a short-term bottom above $0.5. The ADA price followed an upside move from the bottom line of $0.51 and traded a little above $0.60.
ADA/USD went to $0.68 (its highest trading value of the day) followed by a correction which set the ADA price to a lower value.
ADA/USD traded between its lowest $0.51 to its highest $0.68, while it will most probably close at $0.65 or above.
The good news is that Cardano’s ADA against the USD graphic chart shows the formation of a bullying trend line. Even more, every major decline will be limited because of the support set at $0.62.
As the trend is bullish, ADA/USD may soon settle at above $0.65, while also testing the $0.68 level.
ADA trend on the long-term
ADA price is showing an uptrend against the USD and some analysts consider that it will return to above $1 by this April, will go above $1.5 by this June, and will end the year somewhere around $2.5.
On even a longer period, ADA price is predicted to go as high as $7 by the end of 2020.
As ADA is backed up by the Cardano’s technology which is believed that will revolutionize the financial system, investments on ADA’s increase will most probably bring profits in the close future. However, the cryptocurrency market is volatile, so you should invest your money with caution.
In conclusion, ADA/USD is in uptrend and ADA price might settle above $0.65 in the future days.
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