CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$48,634.00
  • ethereum
    ETH$1,523.47
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Price Analysis » Cardano Price Analysis: ADA Now 3rd Biggest Cryptocurrency Following 120% Weekly Surge

    Cardano Price Analysis: ADA Now 3rd Biggest Cryptocurrency Following 120% Weekly Surge

    Author: Yaz Sheikh

    Last Updated Feb 11, 2021 @ 17:16

    Today, ADA continues to surge after seeing a 15% price hike, making it the 3rd biggest cryptocurrency by market capitalization. What’s next for Cardano?

    ADA/USD – Cardano Reaches Top Three Ranked Projects

    Key Support Levels: $0.9, $0.789, $0.691.
    Key Resistance Levels: $0.989, $1.10, $1.17.

    Cardano has been on a mesmerizing run this past week as it managed to soar by 120% to reach the current $0.952 level and become the third-largest cryptocurrency by market cap, just behind Ethereum.

    The cryptocurrency had been trading within an ascending price channel through January 2021. Last week, it managed to break the upper boundary of this price channel as it started to turn parabolic.

    It managed to continue rising and climb above $0.7 on Tuesday. Yesterday, it exploded by a total of 33% as it surged higher into resistance at $0.941 (1.618 Fib Extension). Today, it has continued further above this resistance and is trading around $0.952.

    adausd-feb11
    ADA/USD Daily Chart. Source: TradingView.

    ADA-USD Short Term Price Prediction

    Looking ahead, the first resistance lies at $0.989 (1.618 Fib Extension – blue). This is closely followed by $1.00. Beyond $1.00, resistance lies at $1.10 (1.618 Fib Extension – purple), $1.17 (1.414 Fib Extension – orange), $1.28 (1.618 Fib Extension – orange), and $1.35.

    On the other side, the first support lies at $0.9. This is followed by $0.789 (.236 Fib), $0.691 (.382 Fib), and $0.613 (.5 Fib).

    As expected, both the RSI and Stochastic RSI are extremely overbought, indicating the bulls might be slightly overextended right now.

    ADA/BTC – Bulls Breach 2000 SAT Resistance.

    Key Support Levels: 2000 SAT, 1800 SAT, 1660 SAT.
    Key Resistance Levels: 2095 SAT, 2240 SAT, 2333 SAT.

    ADA is also performing very well against Bitcoin. The coin had started to surge from 1000 SAT at the start of February to reach 1750 SAT by the weekend. It dipped lower from there but found support near 1400 SAT on Tuesday.

    It rebounded from there and surged higher yesterday to reach as high as 2095 SAT (1.414 Fib Extnesion). It has since dropped lower and is trading at 2000 SAT.

    adabtc-feb11
    ADA/BTC Daily Chart. Source: TradingView.

    ADA-BTC Short Term Price Prediction

    Looking ahead, the first resistance lies at 2095 SAT. This is followed by 2240 SAT (short term 1.618 Fib Extension), 2333 SAT (1.618 Fib Extension – orange), 2455 SAT, and 2585 SAT (1.414 Fib Extension – blue).

    On the other side, the first support lies at 2000 SAT. This is followed by 1800 SAT, 1660 SAT (.382 Fib), 1500 SAT (July 2020 high-day close), and 1385 SAT (.618 Fib).

    The RSI is no longer overbought but is still in the bullish favor above 70. This indicates there is room for the market to continue higher still.

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    Read more on: Cardano (ADA) Price

    About The Author

    Yaz Sheikh View more posts by this author

    Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

  • bitcoin
    BTC$48,634.00
  • ethereum
    ETH$1,523.47
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!