Cardano price movement has reflected a sharp bullish movement over the last 30 days. The improvement in the coin is quite impressive. At the beginning of the month, the coin was at $0.0280, and now the ADA price has reached $0.0489. The improvement is almost twice the opening price. The improvement has recovered the price crash and has left a high profit for the traders.
Cardano Nears $0.050 Amid Strong Rally
Cardano was spotted trading at $0.0280 on March 30, and it improved to $0.030 on the next day. In April, the ADA price escalated to $0.032. Then, the currency hovered around the same level until April 06. Later, the price escalated to $0.0360 on April 08 and floated around the same level over the next two days. Later, the currency faced a moderate fall, and the price dropped to $0.0340 and hung around the same level until April 13 with hefty price fluctuations.
After that, Cardano price regained its price level around $0.0360, but around April 22, the price fell to $0.034. After hitting this low, ADA coin managed to recover strongly and escalated $0.0420 on April 24 and continued to trade upwards till today. At the time of writing this analysis, the price spotted around $0.0489 with having support from SMA 50 & 200 at $0.04736 & $0.04529, respectively.
The RSI of Cardano is trending in an overbought zone at 79.49. The same exhibits that the possibility of price weakening is there. However, as per the Cardano predictions, the ADA price might continue to trade with upward momentum and soon cross $0.050 mark.
