The value of ADA showed an increase on May 24, rising to $1.45 in the 200 SMA. An uptrend is possible
At the time of writing, the value of the cryptocurrency is trading at 1.49. This is a bullish forecast for the crypto. It is possible to increase if the bulls can overcome the current levels of resistance. However, it is also possible to reduce the cost to $1.01.
Over the past 18 hours, the price of the coin has increased by 37%. If the bullish influence increases, it is possible to move towards a new target $1.65. To do this, the cryptocurrency will need to rise by another 13%.
ADA/USDT 6-hour chart
In the future, the purpose of the coin will be 50 SMA. This figure is at $1.8. The cryptocurrency will need to add 7 percent.
Further cryptocurrency growth can also be predicted, judging by the Global Money Inflow/Outflow (GIOM) model. More than 334,000 addresses, which were replenished by ADA at the price of $1.32, perfectly contain the short-term pressure of sellers. As the value of the cryptocurrency grows, they will build up assets, and the bearish momentum will weaken.
In the last couple of days the ADA has been trading below resistance levels, but has not deviated below. Support for the growth of the value of cryptocurrencies are provided by positive news about the imminent launch of smart contracts in the network.
If the value of the cryptocurrency drops to $1.32, it may lead to additional sales and increase bearish sentiment. After that, a new downtrend will begin. ADA could lose 23%. Its price will fall to a low of $1.01 on May 19th.
The current price of cryptocurrency can be found on the Binance exchange. It is the world's largest crypto exchange with profitable trading offers and low commissions.
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