ADA Price Prediction: Cardano Token Remains At Crossroads

It has been a few days since the ex-Goldman billionaire trader Mike Novogratz referred to the ADA Community as a “weird cult”, even as he agreed that Cardano had survivability potential. His comments have drawn the ire of the wider crypto community, including the CEO of the Input Output Group Charles Hoskinson.

In his defense of ADA, Hoskinson said Novogratz’s comments came on the back of his inability to get in at a favorable price through a backdoor to “manipulate the market”.

The war of words has not impacted the ADA price predictions, which are more focused on chart activity than on events outside of this space.

Technical Levels to Watch

As is the case with most of the cryptos this Tuesday, there has not been enough volatility to generate trading opportunities on the day. The ADA/USD pair continues to struggle in its quest to break the triangle on the daily chart.

The ADA price prediction is for price to attain 1.848 on a break of the triangle’s upper boundary. The measured move calls for an ambitious
bullish run towards 2.4050. The price needs to break 1.848, the psychological price level at 2.00 and the 2.170 price marks for this to be accomplished.

On the other hand, the alternate ADA price prediction allows for price to drop below 1.40 if the triangle breaks down, targeting 1.249 and 1.167, in that order. The psychological price mark at 1.003 rounds off the
downside targets in the short term.

Don’t miss a beat! Follow us on Telegram and Twitter.

ADA/USD;Daily Chart

Follow Eno on Twitter.

Related Posts: