Forecast for ADA Price: Cardano Shows a Weekly Strong Rise. Will the ADA Surpass the Resistance Level?

Cardano has had a sharp rise in value, climbing with a strong weekly run of 7.4%. Due to this increasing tendency, many investors are debating if now is a good time to buy ADA. Cardano, however, is slated to develop into a top chain compatible with EVM. It intends to introduce a new function enabling developers to launch an EVM contract straight from any ADA wallet.

This innovation is anticipated to be a game-changer, pushing ADA to the top of the EVM food chain and making it a very popular choice for developers.

Cardano (ADA) Trend Move in the Favor

Sebastien Guillemot, a well-known blockchain expert and Milkomeda co-founder, claims that the platform has unveiled a ground-breaking new feature that enables users to interact with dApps and other smart contract services on the Ethereum Virtual Machine while remaining in the Cardano ecosystem.

Cardano (ADA) has a 24-hour trading volume of $410 million, and its current trading price is $0.39. The value of the digital asset has consistently increased, rising 6.3% over the last fourteen days and 17.4% over the last thirty days.

We calculate that Cardano’s market value is currently $13,859,737,812 with a total amount of 34 billion ADA coins in circulation. The Cardano coin will probably set new price records once the market recovers.

Cardano (ADA) had a trading volume of $381,550,994 during the previous 24 hours, which indicated a significant dip in market activity as it fell by 32.90% from the day before. On September 2, 2021, more than a year ago, the highest price ever paid for Cardano (ADA) was $3.09. Cardano’s (ADA) price is currently 87.19% below its all-time high.

Cardano (ADA) has had a price gain of 7.40% over the last week, outperforming the 2.00% growth of the entire cryptocurrency market. Furthermore, Cardano (ADA) has outpaced other Layer 1 (L1) cryptocurrencies, which had a price gain of 5.40% within the same time frame.

ADA Indicator Price Analysis: Price Prediction

Since the start of March 2023, the price of ADA has been moving upwards in a favorable direction for about a month. The optimistic feelings in Cardano are still strong despite the pullbacks the bull run has seen.

ADA is increasing once again, demonstrating the bulls’ ability to push the price higher, after experiencing a little reversal in the previous week. However, the price must rise over the $0.423 resistance level in order for the bullish trend to be verified.

The fact that ADA is trading above both the 50-day and 00-day moving averages supports the upward trend. The relative strength indicator is trading over 50, in addition. Using this research, we estimate that the main resistance levels to watch out for are $0.42, $0.48, and $0.5. However, if the $0.42 resistance level is met, the firm price may decline, making the $0.37 support level possible.

LHINU: High-Value-Driven Coin is an alternative to ADA

Unquestionably, Cardano’s asset is a major participant in the cryptocurrency industry, but there are other new currencies that are attracting interest because of their value-driven applications. Investors have the chance to buy these coins at presale rates, which might result in greater returns in the road. LHINU, a token owned by Love Hate Inu, is one such potential asset.

The token LHINU from Love Hate Inu has become one of the most popular value-oriented currencies with practical uses on the market. These new coins are available for sale at a cheap presale price, making them an excellent investment opportunity.

On the Ethereum blockchain, Love Hate Inu has created a revolutionary vote-to-earn (V2E) platform to offer a safe and impenetrable voting method.

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