Cardano Price Prediction: The Stable Coin Looking to Break Free

 Cardano Price Prediction: The Stable Coin Looking to       Break Free

Cardano has been another large-cap coin that is in a re-accumulation area, ranging from $1.03 to $1.485. It has tested the range three times on either side and as Ethereum showed great gains over the last few weeks, the signal for many of the large-cap coins is becoming clear as Cardano has indeed escaped the range. 

ADA is currently above the range and a decisive close above the $1.50 could signal the end of the re-accumulation area. We can see the RSI approaching the overbought region which has proven to be a strong resistance the previous two times ADA has attempted to break out. So that will also be a key indicator to look out for over the next few days for ADA and whether it will continue to break out. 

ADA vs BTC

ADA has been outperforming BTC in recent weeks as expected and is now approaching a resistance which it had been previously rejected by. An impulsive move from ADA would bring ADA past this resistance and approach the next key resistance. Such a move would bring ADA to the $2 mark and above for an invariant BTC. Again it remains to be seen whether it can break this resistance, if not, the support remains 0.0000175 BTC. 

ADA vs ETH

ADA has already its ATH vs Ethereum and therefore looking from the previous cycle where we see ADA falling from the peak, it should retest the upper band at 0.00055 in the following weeks. It's already tested the support at 0.000385 and with a wick like that in the current week, it seems to show a strong sign of a reversal in the trend. However, every time ADA has dipped from its ATH vs Ethereum, it has dipped into the middle band and so the possibility is still open.

Where are we heading next?

At this moment in time, I believe ADA is still naturally very bullish as it looks to break away from the range. The key levels to watch will be whether ADA will break the near-term resistance against BTC and reverse the trend vs ETH. If ADA manages to do both, ADA could very easily go past the $2 mark.