As the global market capitalization of the crypto space is hovering around $3 trillion, many assets are making huge moves. Bitcoin price & Ethereum price rallied to sit their respective highs in the early trading hours and led the crypto space on fire. And finally, the XRP and Cardano(ADA) price after a month-long wait broke out from the pattern.
Can Cardano (ADA) Price Make It To $3 Now?
The Cardano price ever since reached its peak just above $3, fell into a bearish trap. Despite multiple attempts, the asset could not leap above the resistance. However, as the market turned bullish, the ADA price geared up to break the pattern to rally towards the north. Yet the uptrend may be valid if the surge continues to hit the next resistance levels.
Slight relief is seen within the Cardano community as this time the asset has reacted towards the market sentiments. The price is flipping the bearish divergence and about to make a move towards the next resistance level at $2.6. These levels are pretty critical as a jump above these levels may only confirm an uptrend. Or else, the consolidation may continue to haunt the rally that may keep the price within a small range.
Once ADA price rallies above the crucial levels at $2.6, then the path towards the ATH could become pretty clear. However, trading within the discovery phase, the Cardano price may aim at $3.5 levels initially. Further, a higher range around $4 to $4.2 may be quite possible as the bull market intends to uplift the price of most assets.
XRP Price Gearing Momentum!
Ever since XRP price rallied to its yearly highs close to $2, the asset experienced a major pullback sliding below $1 too. Despite the fact that XRP rebounded well, yet the resistance levels kept on drowning from $1.5 to $1.1. However, the support levels remained ascending which kept up the bullish momentum within the price rally.
Similar to the Cardano price, XRP price also broke out from the symmetrical triangle, yet is experiencing a slight retest. Yet the asset may resume with an uptrend after a small consolidation. In such a case, the initial target at $1.6 needs to be tested and sliced through for a successful uptrend. Further, $2 can be imminent once the yearly highs at $1.9 are attainable.
Collectively, Cardano and XRP broke out from their respective patterns and climbed high in order to head towards their resistance levels. ADA price seems to be poised to retest its ATH while XRP price heads towards yearly highs. To maintain the current uptrend, both the assets need to sustain above these levels.