Cardano Price Forecast for November 27
Cardano Price Prediction For November 27
Cardano’s ADA is currently trading below the crucial $1 mark, experiencing a dip of more than three percent in the last 24 hours. The coin is facing resistance at a key level known as the “golden pocket,” between $1.13 and $1.23. Analyst Josh of Crypto World provided a detailed analysis in his latest video. Here’s a breakdown of his insights:
Support Around $0.82 to $0.83
Cardano is currently testing its 50% Fibonacci retracement level, which previously acted as resistance but is now expected to serve as support. This level is around $0.82 to $0.83. If Cardano holds above this range, it might find support here and rebound. However, a further decline could be anticipated if the price falls below this level.
Potential Breakout to $1.76
If Cardano manages to break through the golden pocket resistance zone (between $1.13 and $1.23), the next major target could be around $1.76. However, this upward move will only occur after a confirmed breakout above the resistance zone, which has not happened yet.
Short-Term Bearish Trend Observed
Cardano is currently within a descending parallel channel, indicating a short-term bearish trend. Despite this, the long-term outlook remains optimistic, characterized by higher highs and higher lows.
Support and Resistance Levels to Watch
In the short term, Cardano is testing a golden pocket support level between $0.88 and $0.89, with further support at $0.83 and potential lower levels at $0.76 to $0.77. On the upside, resistance is seen around $0.94, with additional barriers at $0.98 and close to $1.07.
FAQs
– What support levels should I monitor for Cardano ADA?
Cardano is currently testing support at $0.82 to $0.83, with additional levels at $0.76-$0.77 if the price drops below $0.83.
– Can Cardano surpass Ethereum?
Cardano has the potential to outperform Ethereum if it can enhance scalability, smart contract adoption, and ecosystem growth beyond Ethereum’s existing network limitations.
– How high can Cardano go by the end of 2025?
Based on our Cardano price prediction, the altcoin could potentially reach a maximum of $2.42 by the end of 2025.
Stay informed about the future of Cardano by checking out our long-term Cardano price prediction. Stay ahead of the curve!
