Cardano Price Prediction: Will ADA’s Bullish Momentum Last Until the End of the Month?

The post Cardano Price Prediction: Will ADA’s Bullish Momentum Last Until the End of the Month? appeared first on Coinpedia Fintech News

With a drop of more than 2% in the past seven days, Cardano price continues to trade above $0.36 at the moment. Meanwhile, no notable change is being witnessed in the past 24 hours, hence, the asset is expected to maintain a silent trend for some more time ahead. The bulls are attempting very hard to keep up the bullish trend, but the slashed volume has in turn dropped the volatility that is hindering the ADA price’s progress beyond $0.4. 

The upcoming trend is expected to be slightly bullish as the token appears to be preparing for a significant upswing in the next 24 hours. The price which had flashed an acute bearish signal with a price plunge below $0.34, rebounded, slicing through the bearish captivity. Therefore, the asset may eventually lay down a significant upswing breaking through the pattern very soon.

• The ADA price has been trading within a bullish falling wedge on the daily time frame for quite a long time, ever since it faced rejection at $0.52

• The recent rebound from the lower support of the wedge signifies the tendency of the asset to go long, breaking the upper resistance in the coming days

• Meanwhile, a rejection at the resistance around $0.37 may hinder the rally for some time which could be overcome by the bulls in no time

• Therefore, after a brief consolidation, the ADA price may eventually rise high throughout November and eventually rise beyond $0.4 in December 2022

After a pretty long time, the Cardano(ADA) price is displaying the possibilities of a bullish reversal, eliminating the bearish influence. Therefore, the bullish trend is expected to prevail until the end of the yearly trade and reach beyond $0.5 by the end.