Let's take a closer look and make our analysis for Cardano (ADA) Coin. If you are trading Cardano, maybe it's best to look at its Long Term performance so we can forecast more effectively.
On Coinmarketcap's performance charts we can see that Cardano is up 13% for the last seven days. We can also see Cardano is highly volatile during the last 3 days. Have you followed closely regarding the trading performance of the top cryptocurrencies (i.e., Bitcoin, Ethereum, Binance Coin), its volatility somewhat 'copies' what Bitcoin is doing whether it goes up or it goes down. But not with ADA, because it performs almost 'independently' from all other cryptos.
Let's take a look at the 1 week charts. Here, it shows Cardano has been as high as $1.47 on February 22nd, which is followed by slightly lower $1.46 three weeks later. Obviously, $1.47 is the highest Cardano price thus far. To understand that clearly, we actually have a 'double top' or two highs from February until March.
The question is; will Cardano can maintain the momentum to the top charts? In my analysis, in the following 2 weeks to come it will have something of consolidation where it floats between $1.07 - $1.38. To further explain, if we look closely on daily charts or short term performance we can definitely see a bearish pattern for Cardano.
Please do keep in mind that the resistance prices will at the lowest $1.07 price. The possible highest will be at $1.38 the most.
The Coinbase listing of Cardano had a somehow negative impact on ts price it went down -15%. But think positive because Coinbase could 'help' Cardano's price performance in a matter of 6 weeks, perhaps.
Cardano's trading volume as of March 21 is at $4,438,734,005. Wow, that is a lot of activity in the digital market.
Cheers!
Image source:
https://cdn.coingape.com/wp-content/uploads/2021/02/07192013/Cardano-ADA-Ripple-XRP.jpg