Cardano breaks above the 2019’s high after the daily 25% surge and is now approaching the 1500 SAT level with strong bullish momentum as we are reading more in the upcoming Cardano ADA news.
The price is now approaching the 1500 SAT level and Cardano surged 28% after crossing $0.1 price level. The key support levels are set at $0.11 and $0.094 as the second half of the year is again looking for a strong start for Cardano as it is trading above the $0.094 level. The price is now trading above 2019’s high with a 58% growth in the past seven days. Looking at the increase since mid-June at $0.0623 where the recovery started, Cardano breaks above over 100% in the past 21 days. There’s no doubt that the 7th best-performing crypto asset by market cap, turned bullish again for a mid-term rally but it could provide a small discount to $0.11 if the retracement happens. Still, the price is up by 24% against the US dollar.
After the ongoing second wave, Cardano’s price could target the 2018 resistance of $0.2 and it could encounter resistance at $0.16. There’s not a lot of room for the bears right now and if the price drops below the mentioned key retracement level, the next major rebound level to watch is the $0.094 level which got breached on July 1st. The bulls are in control as of now. While Bitcoin remains cal at $9300, the Cardano price increased by almost 25% in the past day. the price is now approaching the 1500 SAT level with strong bullish momentum.
As spotted on the daily charts, the latest surge was seen on the full-body candle to indicate that buyers are stepping stronger into the market with a huge volume but keep in mind that such a move could mean a sharp decline soon. The future still looks bright and promising for Cardano as the buyers are sustaining the pressure. The price could drop and will be able to find support to refuel bullish actions by eyeing the 1500 SAT level against bitcoin. If Cardano is able to close above 1500 SAT today, the next buying pressure will target 1700 SAT before rising more to the 2019 high of 1944.
Cardano is officially the best performing asset of this year, as the latest reports show.
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