Cardano Long-Term Price Prediction: $0.30 Area is Crucial

of Cardano (ADA) prices are up 12% this year, boosted by positive news. Despite this, Cardano’s long-term price forecast is still undecided.

ADA is the native token of the Cardano blockchain platform. Founded by Charles Hoskinson, it specializes in decentralized applications (dApps) and smart contracts.

There was some positive news for Cardano this weekend. Minswap, Cardano Network’s Leading Decentralized Exchange, Has Locked Its Total Value (TVL) 2.53% increase. other decentralized exchange For example, Indigo and WingRiders have increased TVL by 5% or more.

However, the most notable increase was in Meld’s borrowing and lending protocol. His TVL on the non-custodian banking platform has increased by 20% over the past week, putting him in second place in the Cardano ecosystem.

Nevertheless, not all Cardano news is positive.The platform has dealt with negative press regarding its programming language and questionable project. obsession with africawhich is seen as a difficult market to break through due to lack of internet infrastructure.

Cardano Long Term Price Prediction

Technical analysis from the daily timeframe, Cardano price After reaching a high of $0.44 on October 29, it has fallen. The downward move led to a low of $0.24 on December 30th. ADA price then bounced back, rising 12%.

An interesting development is RSI The drop preceded an up move into the oversold territory. A similar drop triggered his 33% rise in October.

The daily RSI also produced a bullish divergence (green line) in the current uptrend, further justifying the rise.

If the move continues, the main resistance area will be $0.30. On the other hand, a break below the December 30 low of $0.24 (red line) invalidates this bullish Cardano price analysis.

Will ADA outperform BTC?

The ADA/BTC chart also points to a possible bullish reversal.The price forms a double bottom pattern at the 15,800 yen level Satoshi horizontal support area. This is a very important area as the ADA token price has not fallen below this since January 2021.

However, a bullish double bottom pattern is also combined with a bullish divergence in the weekly RSI (green line). This further increases the chances of a bullish reversal. A breakout from the current descending resistance line confirms the bullish pattern.

A weekly close below the 15,800 satoshi support area invalidates this bullish hypothesis.

In conclusion, the most likely outlook for both ADA/USDT and ADA/BTC is a continuation of the uptrend. A break below the December 30 low will invalidate these bullish forecasts and indicate that new lows are likely.

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