- Cardano Price continues on its inexorable rise forward
- Buying spree continues as investors continue to pile into the smart contract crypto
- Non-farm payroll data and Powell interview on regulation could have an effect on continuing growth of cryptocurrency markets
The Cardano price is marginally up to the $3.01 level on Friday, and it does appear that the current trend continues to be bullish. ADA has risen considerably since its July 20 low of around $1.04 and has made an almost 200% gain from that level to reach the $3.04 mark on 23 August. It revisited the $3 level on 31 August but retreated slightly, although further gains may be expected very soon.
The recent interview with FED Chair Jerome Powell once again made reference to regulation in the cryptocurrency markets. Some are actually seeing this as a good thing over a long-term basis as the investment class continues to mature. It also weeds out bad actors who could be in the markets simply for scam purposes. On the whole, the crypto market reacted positively to this statement as gains continued over the past few days.
If you haven’t yet bought some Cardano then you should take a look at this How To Buy Cryptocurrency Beginner’s Guide.
Short Term Prediction For Cardano Price: A slight retreat before another push forward
The Cardano price has been consistently reaching all time highs during the last month or so. Interest in the smart contract coin has exploded and there are some wild predictions on the cards with prices such as $5 and even $7 being bandied about. Realistically the ADA price should continue to grow consistently but within the limits of reason.
If the bullish scenario were to continue, then the Cardano price should supersede the $3 level once again where it may encounter resistance at the $3.10 mark. It has already been rejected at $3.05 but the climb should now continue, always if the bulls remain in town.
On the other hand, if the bears return, there should be a drop in the Cardano price to the $2.70 level where meaningful support should be found. If the sell-off is protracted, then ADA could even retest the $2.55 level but a 20% drop from the current price looks unlikely at this point.
If you wish to start trading cryptocurrency then have a look at these Top Cryptocurrency brokers.
Long Term Prediction For ADA: Steady Rise To New ATH’s Expected
The Cardano price remains in bullish territory and if this sentiment continues to prevail, there’s no doubt that new ATH’s will continue to be achieved. Today’s release of Non-farm Payroll job data in the US could also be of interest as it could also re-ignite interest in the cryptocurrency markets.
Regulation in the crypto space remains an important issue and this was highlighted by Fed Chair Jerome Powell in a recent interview. The cryptocurrency markets seem to have largely priced in such concerns with some coins making historic gains. The future looks quite rosy for Cardano.
Where to Buy Cardano
If you want to purchase Ripple, you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
• Binance
The other platform where you can buy ADA is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.
Looking to buy or trade Cardano now? Invest at eToro!
Capital at risk
Share
Gerald Fenech
