Cardano (ADA) price prediction for this week

ADA took the market by storm after gaining 88% in one week.

Key support levels: $0.60

Key resistance levels: $0.70, $0.80

1. Shoppers are back with a vengeance

Nothing seems to be stopping the ADA rally. It broke through one resistance after another and is now at 62 cents, almost double the price it was at the beginning of November! This performance is impressive and comes after ADA’s founder revealed plans to work with the US government on crypto-related policy.

TradingView chart 2. Strong rally without any pullback

The rally that began on November 5 has continued until today without any significant reunions. This saw the price make sustained gains for more than a week. Whatever sale occurred, it only stopped the demonstration for a brief moment. At the time of this publication, the ADA is above 60 cents, which acts as support.

Chart by TradingView 3. Buying volume explodes

A quick look at the volume shows that the last time Cardano saw this much buying pressure was in the bull market of 2021. This is great news as it gives a strong bullish signal to the market. If this holds, then this cryptocurrency has a good chance to rise even further ahead, with 70 cents and 80 cents as key targets.

TradingView Chart SPECIAL OFFER (Sponsored) Binance Free $600 (Excludes CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!