The post Cardano (ADA) Price Prediction For January 31 appeared on BitcoinEthereumNews.com.

Cardano (ADA) has been moving around quite a bit lately, currently sitting at about $0.97, which marks a small dip of around 1.6% from yesterday’s close. Today, it’s ranged between $0.94 and $0.99, showing some volatility but nothing too extreme. Cardano Price Analysis Looking at the technical indicators, the Relative Strength Index (RSI) is at 46.61, which is pretty neutral. It suggests that ADA isn’t in overbought or oversold territory right now, meaning there’s a balance between buying and selling pressure. The Moving Average Convergence Divergence (MACD) is just above zero, which is a good sign—it’s indicating a little upward momentum, so it’s not all doom and gloom. If we check out the moving averages, we see a bit of a mixed picture. Short-term moving averages like the 5-day are showing a bullish trend, with the price above that level. But medium-term averages, like the 20-day and 50-day, are above the current price, which hints that there could be some bearish pressure ahead. On the flip side, long-term moving averages like the 100-day and 200-day are well below the current price, suggesting that the overall outlook is still pretty bullish in the long run. Recently, Cardano saw a nice rally, pushing up by about 15% to hit $1.15, but it’s pulling back a little now. Some analysts are seeing a potential buy opportunity around the $0.80 level, with resistance at $1.00 and $1.14. However, it’s worth noting that a stop-loss around $0.74 could help limit any downside if things take a sudden turn. Cardano Price Prediction Analysts predict that Cardano could reach approximately $1.05 in February, representing a potential increase of over 8% from its current price. Assuming steady growth and increased adoption, Cardano might aim to reclaim and potentially surpass its previous highs, targeting around $1.50 to $2.00 by…

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Filed under: News - @ January 31, 2025 9:21 pm