GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout
News

Cardano (ADA) Price Prediction for March 16

Cardano (ADA) Price Prediction for March 7

The post Cardano (ADA) Price Prediction for March 16 appeared first on Coinpedia Fintech News

As the weekend approaches, the overall cryptocurrency market has begun to recover, showing signs of an upward rally. Amid this recovery, ADA, the native token of the Cardano blockchain, appears bullish and is poised for a significant rally in the coming days.

Cardano (ADA) Technical Analysis and Upcoming Levels

According to expert technical analysis, ADA has formed a bullish inverted head and shoulders pattern and is now on the verge of a breakout. Based on recent price momentum, if the asset breaches the pattern’s neckline and closes a four-hour candle above the $0.76 level, there is a strong possibility it could initially soar by 10% to reach $0.85 in the coming days.

Source: Trading View

However, amid this rally, ADA may face resistance from the 200 Exponential Moving Average (EMA), which currently indicates that the asset is in a downtrend. This bullish thesis will hold only if ADA breaches the $0.76 level, otherwise, the bullish outlook may fail.

However, on a longer time frame, ADA appears to be consolidating within a tight range between $0.73 and $0.757 over the past five trading days and is now attempting to break out. If the asset breaches this consolidation and closes a daily candle above the $0.76 level, it could soar significantly by 50% to reach $1.15 in the coming days.

Source: Trading View

Major Liquidation Levels

At press time, both bulls and bears are making strong bets on the asset, as reported by the on-chain analytics firm Coinglass. Data reveals that traders are currently over-leveraged at $0.723 on the lower side, with $12 million worth of long positions.

Source: Coinglass

Meanwhile, $0.765 is another over-leveraged level, where traders have held $10.50 million worth of ADA tokens.

Latest Press

post-thumbnail
News
2 hours ago
Bitcoin, Ethereum and XRP Price Prediction: Will Interest Rate Decision Revive Buying Demand?
The post Bitcoin, Ethereum and XRP Price Prediction: Will Interest Rate Decision Revive Buying Deman...
READ MORE
default post thumbnail
News
2 hours ago
XRP $15 Breakout? Not A Far-Fetched Idea—Analysis
After dropping to less than $2 last March 11th, Ripple’s XRP springs back to life and it’s curre...
READ MORE
default post thumbnail
News
2 hours ago
Chainlink Price Could Run To $31 In The Next Leg Up — Here’s Why
The final months of a market cycle are usually characterized by exhilarating runs by various assets ...
READ MORE
default post thumbnail
News
2 hours ago
Cardano Is ‘About To Break Free’ – Breakout Above Crucial Supply To Trigger A Big Move–Analyst
Altcoins and Cardano have been caught in extreme market swings, with high volatility and panic-drive...
READ MORE
default post thumbnail
News
2 hours ago
Shiba Inu Burn Update: 99.44% Daily Burn Crash Could Spell Trouble For Meme Coin
Shiba Inu’s price action in the past 24 hours has been characterized by a brief recovery after hit...
READ MORE
default post thumbnail
News
2 hours ago
Shiba Inu Price Prediction: The Future of SHIB in the Crypto Market
When it comes to Shiba Inu price prediction, everyone wants to know, is it still a good investment?�...
READ MORE
default post thumbnail
News
2 hours ago
Top 3 Reasons Why Ripple (XRP) is a Better Investment Than Ethereum (ETH) in 2025
Top altcoins are racing for dominance as the market rebounds. Experts believe that by 2025, Ripple (...
READ MORE
default post thumbnail
News
2 hours ago
Shiba Inu’s (SHIB) Path to $0.000081 Remains Rocky as Investors Aim for a 21670% ROI With This Crypto
Popularity for meme coin enthusiasts, SHIB’s rise to $0.000081 is problematic. The operational vol...
READ MORE
default post thumbnail
News
2 hours ago
Best Cheap Crypto to Buy Now: Affordable Assets with High Potential
Finding the best cheap crypto to buy now isn’t just about jumping on the latest meme coin hype,  ...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started