Cardano price prediction -August 2021 top ADA trade strategies

Hi traders, today we will be presenting our Cardano price prediction for August 2021. I will analyze the current price movement and what to expect, the likely scenarios that will follow, and how we should navigate the markets.

Now please remember that this is not financial advice; this article is only made for enterntaiment purposes and that you should always do your own diligence.

cardano price prediction august 2021

Cardano Current Price

We can see that in the last few days, ADA finally managed to break above the very significant 140 day moving average that we can see in the chart with the yellow line, and still it’s above the 200-day moving average indicated by the blue line. Being above both of those averages signals signals new bullish momentum for Cardano.

We had seen that those two averages had been respected for a while when it was the beginning of the long bullish run for Cardano in 2020. This held true even during the exponential move in May 2020, which was followed by a 60% dump that bounced exactly at the 140d SMA, twice.

Cardano Price Predictions

The same pattern repeats several times throughout Cardano’s short bull run history, and now we’re finally again breaking above those averages with momentum and volume. This warrants that the most critical resistance point for Cardano is at $1.90, and after this only the $2.50 remains.

However, we should also be cautious considering that bitcoin is hanging in a very marginal level of support, which will cause an alt coin marketcap collapse if it breaks.

The most significant levels of support for bitcoin are currently at $45000, $43000, and  $40000. Staying above those levels for a while will allow ADA to break above the $1.90 and try to retest the previous all-time high.

If bitcoin eventually gets rejected from the 200 day SMA but remains above the 21 week EMA, then the targets to buy Cardano will be in the  $1.40-$1.44 range. If however, bitcoins also breaks below the 21 week EMA, then $1.20-$1.30 becomes the next buying range for Cardano, and the $1 the absolute bottom.

If you like this analysis, please check the full video ADA / Cardano price prediction analysis on YouTube: and follow EconAlert on Facebook and Twitter.

Read our blog to find our most recent Bitcoin price prediction.

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