{"id":13522,"date":"2022-08-11T21:38:05","date_gmt":"2022-08-11T21:38:05","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/analyst-says-cardano-could-jump-20-over-next-few-weeks\/"},"modified":"2022-08-11T21:38:05","modified_gmt":"2022-08-11T21:38:05","slug":"analyst-says-cardano-could-jump-20-over-next-few-weeks","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/analyst-says-cardano-could-jump-20-over-next-few-weeks\/","title":{"rendered":"Analyst says Cardano could jump 20% over next few weeks"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum & Crypto News )<\/b>
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Cardano (ADA) is trading near $0.53, just about in the green on Thursday evening as the crypto market looks to hold onto yesterday\u2019s gains.<\/p>\n

The ADA\/USD pair is however facing some pressure with prices falling from intraday highs above $0.54, a price level that\u2019s likely to prove crucial to bulls\u2019 chances of breaking higher.<\/p>\n

Cardano price outlook<\/h2>\n

ADA has already hit resistance at the zone this week, dipping from the supply reload area to touch lows of $0.50 on Tuesday. A previous rejection at the level also saw Cardano price fall to $0.49.<\/p>\n

Crypto analyst Michael van de Poppe however thinks buyers could still force a rally if they hold above the critical 50-day moving average.<\/p>\n

Cardano price chart and key price levels. Source: <\/em>Michael van de Poppe<\/em><\/a><\/p>\n

As per the chart above the analyst shared on Twitter, that price gauge remains above $0.47. The cryptocurrency has over the past few days held firm at the MA. Van de Poppe sees an upside trigger being at $0.55, where a retest could open up a breakout to new resistance around the $0.66-$0.70.<\/p>\n

If the breakout happens, the analyst sees a 20% rally by early September.<\/p>\n

\u201cCardano follows the plan and looks ready for continuation, as the entire market looks ready for continuation. Expecting to see $0.70 as possible in the next few weeks<\/em>,\u201d he predicted<\/a>.<\/p>\n<\/div>\n