ADA (Cardano) has been doing fairly well since early this year and has risen 44% during the last week itself. A 21% jump during the last 24 hours itself. It is one of the currencies that is seeing interest owing to increased interest in DeFi currencies. As predicted a week back ADA has outdone the 35% increase in price very easily and is still growing higher. The Week that Was for ADA Since January 24, 2021, ADA was at $0.36, dropping slightly to $0.33 on January 25. It touched its lowest in the week on January 27 at $0.31 to start climbing again on January 28 to touch $0.35. Moreover, January 29 saw it at $0.37, and with a spike in new volumes, the price on January 30 went to $0.38. However, the price could not hold on to this support level and it fell again to $0.34 on January 31 and remained so on February 1 as well. However, the twist in the story came from the latter half of February 1 when the volumes increased in trading and the price also started climbing to $0.45 on February 2. The day saw a massive jump in the currency – when the 12-hour EMA predicted further growth. https://ift.tt/3cJN6Du Prediction for Today and Tomorrow ADA is one to watch out for. It is currently trading at $0.52 and is expected to breakout to a level of $1.2 once it has broken $0.44. It remains to be seen if the technicals hold for that long. The next term target is at $0.65 and a successful breakthrough is a great sign for the open road ahead for ADA. The Relative Strength Index (RSI) is validating this uptrend and it is in the overbought region. Bull phases see this indicator stay here for longer. Approximately 724 addresses have purchased 5.8 million ADA. This shows a major whale activity. In case a trend reversal happens lookout for $0.42 and $0.44 as major support levels. ADA is the sixth-largest cryptocurrency and has a market capitalization of $16,188,287,956.
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