3 key levels Cardano price needs to reach & sustain could signal a more substantial bullish trend 

Since March 19, Cardano (ADA) price has significantly increased, pushing the cryptocurrency toward several important price thresholds.

3 keys we need to follow to see Cardano (ADA) price

In this article, we’ll talk about three important levels that ADA needs to reach and keep going above, which could point to a stronger bullish trend shortly. First, watching ADA’s reversal from the 200-day moving average is important. A successful reversal from the 200-day moving average, a long-term trend indicator, would indicate a positive momentum shift.


ADA/USDT 1-day chart | Source: TradingView

Second, a significant price level to watch is a breakout above the 200-day exponential moving average (EMA). The critical resistance level for ADA is the 200-day EMA, which is currently hovering around $0.41. The cryptocurrency may open the way for further upside movement if it successfully breaks through this obstacle.

Lastly, ADA’s third crucial price threshold entails a profitable breakout and prolonged consolidation above the resistance level of $0.41. ADA could move toward even higher price targets if it consolidates above this level, indicating buyers have taken control of the market.


ADA/USD 4-hour chart | Source: TradingView

At the time of writing, ADA is changing hands at $0.403.

Cardano’s founder commends growth of ecosystem

Charles Hoskinson, the founder of Cardano, has praised the ecosystem’s expansion. “The ecosystem continues to grow. Good work everyone”, he tweeted.

In an image that the creator of Cardano shared, the statistics show that 1,221 projects are currently developing on Cardano, and 119 have already launched. A sum of 63.9 million exchanges has been handled in the organization. There are currently 8.06 million native Cardano tokens distributed across 71,128 minting policies. There are currently 7,546 Plutus scripts, of which 2,312 are Plutus v2 scripts.

CoinLedger, a provider of NFT taxes and cryptocurrencies, has launched an automatic tax reporting service for its customers and announced support for Cardano.

Expanding Cardano’s utility, Cardano users will soon be able to access smart contracts on the Ethereum Virtual Machine using any Cardano (ADA) wallet. A new feature is coming to Milkomeda, a network connecting EVM contracts to Cardano and Algorand blockchains. Staking rewards will soon be available to all EVM users, including smart contract creators, thanks to Milkomeda.

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