Cardano

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The post <a href="https://coinpedia.org/price-analysis/cardano-price-jumps-13-this-week-will-ada-price-hit-1-soon/">Cardano Price Jumps 13% This Week! Will ADA Price Hit $1 Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Despite the increased market volatility, the ADA coin price continues to display a neutral trend from the past few days, indicating weak buying and selling pressure for the token in the market. Further, this altcoin had added over 13.5% over the past week. 
The CardanoADA price traded in a narrow space between $0.4577 and $0.4756 for a period, following which the market gained momentum and the <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/">ADA price</a> broke out of the range. However, the rally was short-lived as the it faced rejection at $0.5051, after which it displayed a neutral trend for a while. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/HaCn49FDEEX8u-R5xiBg3Pjvr53qEISN8vn9Mt4VQFRoO6px8d6szh-5M-8CefH5baDqY9b3l3HQ8DPylGtGJNvqn6xLV1zyFhDDRqvgbvbgVuRyacD3XBi7-i-SZWEIQW0LOSAcrMCxezgxThOI7xM" alt="ADA Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ADA/USDT
 </figcaption>
</figure> 
As the market volatility increased, the bulls regained momentum and recorded a jump of 10% before facing rejection at the resistance level of $05331. Following this, the ADA price traded in a consolidated range between $0.4756 and $0.5331 for the next eleven days. 
The altcoin then traded in a closed range between $0.5331 and $0.5607 for a while, indicating a cool-off in the price action from the price pump. As the volatility increased, the ADA price jumped approximately 16% in value, after which the price faced rejection at $0.6178. 
Following this, the price traded sideways for a while, and after testing its low of $0.5834, the bulls regained momentum and recorded a jump of 12.45%. Since then, the price has been trading in a closed range between $0.6178 and $0.6400. 
<h2 class="wp-block-heading" id="h-will-cardano-rise-again">Will Cardano Rise Again?</h2> 
The technical indicator, MACD, displays flatlines in the chart, suggesting weak buying and selling pressure for the coin in the market. Further, the averages show a neutral trend, highlighting a decline in the price action for this altcoin. 
If the market pushes the price above the resistance level of $0.640, the bulls will regain momentum and prepare to test its upper resistance level of $0.6632 this week. If the bulls hold the price at that level, it will set the stage for the Cardano token to attempt to test its upper limit of $0.6874 in the upcoming weeks. 
Conversely, if the bears overpowered the bulls, the ADA coin price would lose momentum and fall to test its support level of $0.6178. Moreover, if the bears continue to hold power, the ADA coin will continue to bleed and prepare to test its lower support level of $0.5834 this month.

Cardano Price Jumps 13% This Week! Will ADA Price Hit $1 Soon?

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