Cardano (ADA) Price Analysis and Prediction: Lurking and Waiting

ADABTC

Even though a lot of traders will draw chart of individual coins, it is a historical fact that altcoins make notable moves only after bitcoin propels the whole market to flex its muscles.

ADA is currently at 468 sats or $0.038 and has a trivial real trading volume of only $2 million per day which makes its reported trading volume of $11 million overstated by more than 5x.

ADA is hovering right above the level of 457 sats, a support and resistance formed back in August. It also seems to be forming a symmetric triangle and it will reach its peak in approx 10 days so that will be an interesting development to follow. Should the market wake up and do a bull run, ADA will break up out of it as well.

Total market cap analysis

Just like in the days before, the overall market is still glued below the resistance level of $219 billions. We need to gain momentum to test this zone before any significant bull run is to be expected.

Here is a guide how to store ADA and this one is on long term ADA prediction.

What can give an impetus for a move up? Right now, no fundamentals of significant magnitude are on the horizon and the only thing that could prop the market up is either whale manipulation or another round of Tether printing.

The Crypto fear and greed index is also looking much better as the needle travels north, reaching the 39 points on this scale that uses 5 different source of information to calculate its value – Volatility, volume, social media, google trends, dominance. As a reminder, the pointer stooped to the levels of 20-25 points only couple of days ago. So the sentiment is on the rise.

Latest Crypto Fear & Greed Index

Other news

IOHK CEO Charles Hoskinson announced a partnership with sneaker manufacturer New Balance at the Cardano Summit in Bulgaria on Saturday. The stated goal? To use IOHK’s Cardano blockchain to ensure that New Balance shoes are authentic.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Felix Küster

Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.

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