Cardano [ADA] exceeds $ 3, investors can take advantage of this buying opportunity



September has been a spectacular month for Cardano (ADA), passing another crucial $ 3 milestone. Just as the state of the 2021 market bull run took a confusing turn, several assets rallied to new heights while others crossed crucial barriers pushing the total valuation above $ 2.10 trillion.

Cardano (ADA) in an ideal position

Over the past few weeks, the rising price of Cardano (ADA), now comfortably in third place, has gradually driven a surge in investor interest. Not surprisingly, we are now seeing growing participation from the network.

Chain sentiment is leaning higher. For example, IntoTheBlock's Net Network Signal, which essentially gives an idea of ​​the "true growth" of the token's underlying network, was showing bullish sentiment.

cardano feeling

Before the value of ADA reached the much anticipated $ 3, the asset went through a period of consolidation that was inevitable and was bound to create some ripples. As a result of the brief recession, total earnings since July 20 were down to 213%.

But Cardano has been pumping the moon once again.

ADA-4hour-chart "width =" 1024 "height =" 456 "data-lazy-srcset =" -4hour-chart-e1630578166284-1024x456-1.png 1024w, 1-300x134.png 300w, 768w, 696w, https: //es.crypto 943w "data-lazy-sizes =" (max-width: 1024px) 100vw, 1024px "data-lazy-src =" "/></p><p><noscript><img class=The 4-hour chart shows an impulsive move from $ 1.8 to $ 3.04 after a correction below $ 2.5. Should negative pressure intensify to the current high, the 78.6% Fibonacci Extension level has the potential to launch another round of buying pressure. With the Relative Strength Index (RSI) targeting the overbought level, there is more room for gains.

However, in an unlikely event of a deeper pullback, ADA could test the previously claimed support level present at 50% extension. Interestingly, this region has already served as a base for purchasing activity. A break to the downside of these levels could pave the way for short selling.

What are the goals of the ADA?

ADA1 "width =" 1024 "height =" 458 "data-lazy-srcset =" -1.png 1024w, 300w, https: // es / wp-content / uploads / sites / 2/2021/09 / ADA1-e1630575966775-1024x458-1-768x344.png 768w, uploads / sites / 2/2021/09 / ADA1-e1630575966775-1024x458-1-696x311.png 696w, -e1630575966775-1024x458-1-939x420.png 939w "data-lazy-sizes =" (max-width: 1024px) 100vw, 1024px "data-lazy-src =" -content / uploads / sites / 2/2021/09 / ADA1-e1630575966775-1024x458-1.png "/></p><p><noscript><img class=The daily chart, on the other hand, showed an ideal situation for Cardano's price movement in the short term. Volume has been subdued as it supported the consolidation token gap.

The daily moving averages also lined up with the bullish phase and at the same time supported the ADA price candles in the face of the damaging market downturn.

Traders managed to seize the opportunity to get the alternative earlier this week, just before the last bull cycle. The 100% Fibonacci level proved to be an ideal entry point for market participants.

Meanwhile, the next target for Cardano is now at the 261% Extension at $ 3.4, which could invite the bulls to target the $ 3.55 and $ 3.69 levels respectively. However, the ADA must first cross the $ 3.09 barrier in order to rise to that level.


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