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      Cardano (ADA) coin price prediction 2021 - Stocks Telegraph

      By Muskan

      Published on

      June 28, 2021

      6:39 AM UTC

      Cardano (ADA) coin price prediction 2021 - Stocks Telegraph

      Cardano (ADA) is on a bearish turn. The cryptocurrency has been trending downwards since early June. In the twenty-four-hour timeframe too, ADA coin started off from $1.349 and is standing at a price level of $1.31 at the time of writing. The price movements of ADA coin reveal a minor upside movement as well while the daily trading volume has dropped by nearly 30%.

      Cardano (ADA) technical analysis

      The market sentiment for ADA crypto remains strongly bearish with a majority of the technical indicators giving out a signal of sell. Out of the twenty-six technical indicators, eleven are giving out a signal of sell, ten stand at a neutral position while give indicators suggest a buy. The oscillators are neutral while the moving averages are bearish.

      Cardano (ADA) technical analysis
      Cardano (ADA) technical analysis

      The bears have gripped the ADA market and the crypto market, in general. A trader has identified a downward trajectory for ADA coin. Cardano is expected to continue declining in 2021 until it reaches an ascending support line. The intersection is expected to occur at a price level of $0.59. Hence, the cryptocurrency may fall below $1 and much lower if it does not establish strong support.

      The year is going to be decisive for Cardano as there is a possibility of dropping below major support levels. While the technicals suggest bearish divergence in the market, price prediction websites continue to display a bullish prediction for Cardano. Wallet Investor forecasts the price of Cardano to be at $3.23 in a year’s time.

      Cardano’s integration with Orion

      IOHK, the firm behind Cardano, has entered into a strategic partnership with the trading platform Orion. Orion has announced to integrate Cardano into trading terminal – allowing Cardano users to trade assets on the platform. The aim of the partnership is to increasing the transaction volume of Cardano’s blockchain and further its development.

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