DustyBC Crypto expects Cardano to hit $12, citing its potential to surpass Ethereum in market cap this cycle.
ADA's RSI at 61.55 and bullish MACD support further upward momentum, signaling room for price growth.
Key levels: Support at $1.0500 holds strong; breaking $1.1000 could pave the way for a rally toward $1.2000.
DustyBC Crypto has projected a dramatic rise in Cardano’s price, expecting it to reach $12 at a minimum, with possibilities of exceeding $20 in this market cycle. According to DustyBC, Cardano’s current positioning in the crypto market provides a unique opportunity for investors to acquire ADA at relatively lower prices before a potential surge.
https://twitter.com/angrycryptoshow/status/1860843965622174053
He stated that the cryptocurrency might overtake substantial market capitalization from competitors like Ethereum, solidifying its presence in this cycle. While his conservative estimate remains $10, the prediction suggests a potential 10x growth for ADA from its current level.
Price Dynamics and Key Levels
At press time ADA was trading at $1.0694, up by 1.49% in the past 24 hours. Current price movements reveal notable support near the $1.0500 mark, a level where previous downward trends have been repeatedly rejected.
On the upside, resistance emerges between $1.1000 and $1.1200, with sellers maintaining pressure at these levels. A continuation of the current trend, characterized by higher highs and lows since mid-month, signals increasing market confidence.
Source: TradingView
Volume trends further highlight this bullish sentiment, short term trading periods showing heightened activity during upward movements. Recent trading volumes, such as 10.96M, support the moderate market participation, potentially leading to an upward surge.
Momentum Indicators Show Strength
The Relative Strength Index (RSI) currently stands at 61.55, firmly placing Cardano in the bullish zone while remaining below overbought levels. This reading suggests the market retains room for further upward movement.
The Moving Average Convergence Divergence (MACD) shows a growing divergence between its MACD and signal lines, both in positive territory. The histogram value of 0.0066 reinforces this bullish momentum, suggesting continued upward pressure in the near term.
What Lies Ahead for ADA
Price trends, volume activity, and technical indicators highlight crucial levels to monitor. Breaking resistance at $1.1000 could open the way toward the $1.2000 mark. Conversely, failure to hold support at $1.0500 could result in retracement, testing the $1.0000 level.
