ADA may cross above $0.50, TAMA looks promising

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Cardano’s price forecast may continue to follow a sideways movement, but if the market price increases, the coin may rise.

Cardano Forecast Statistics Data:

  • Cardano price now – $0.46
  • Cardano’s market value is $15.8 billion
  • Cardano transfer supply – 34.1 billion
  • Cardano’s total supply is 34.8 billion
  • Cardano Coinmarketcap Rank – #8

ADA / US dollar market

Key steps:

Resistance levels: $0.57, $0.59, $0.61

Support levels: $0.40, $0.38, $0.36

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ADA/USD is currently trading below the 9-day and 21-day moving averages of $0.46. In the descending channel range, the closest support is at $0.45, with the closest resistance at $0.50. Meanwhile, if the price of Cardano rises, further resistance can be found above the 9-day and 21-day moving averages.

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As Tamadoge looks promising, Cardano price may go bullish.

Looking at the daily chart, it is clear that after the price of the Cardano coin crosses above $0.50, and according to the technical indicator, the relative strength indicator (14) may follow a sideways movement.

Currently, ADA/USD is trading at $0.46, but any bearish movement below the lower boundary of the channel could lead the coin to a sharp decline. However, the support levels of the coin can be found at $0.40, $0.38 and $0.36, while the resistance levels are at $0.57, $0.59 and $0.61.

Again Bitcoin, Cardano’s price may face the upper limit of the channel. Meanwhile, the support level of this coin is built around 2300 SAT and the resistance is placed at 2600 SAT if the market price crosses above the 9-day and 21-day moving averages. The technical indicator Relative Strength Index (14) remains above the 50-level, so the price may continue to move sideways.

ADABTC – Daily Chart

However, if the price of Cardano faces the lower border of the channel, ADA/BTC may hit the support level of 2100 SAT and below. Moreover, any bullish movement above the moving averages may allow the market to form a new upward trend, which may reach resistance at 2600 SAT and above.

Tamadogge Group said the move aims to make investing in TAMA easier and safer. These users can be convinced to move fiat to crypto, so Tamadoge is important to secure this contract with Tranak. One of the strong pillars of projects in the Web 3.0 and crypto sector is having a strong team to make the project a success. TMA’s website lists Thomas Seabrook as Tamadoge’s lead developer and Carl Dawkins as development lead. Other members of the Tamadoge team include Neil Palethorpe and Sifamandla Majoli, who joined as Senior Interaction Designer and Senior Blockchain Developer.

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