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Cardano (ADA)

Cardano is a blockchain platform for innovators, which offers tools and technologies required for building smart contracts and creating decentralized applications and protocols. Also, the users can send and receive funds instantly with the minimum amount of fees.

The leading cryptocurrency of Cardano is known as “ADA.”

ADA is available to purchase on various crypto exchanges, including BuyUCoin. Users can use it to pay for digital transactions.

The current market price of ADA is ₹90.9 with a market capitalization of $37.61 Billion, while its total supply is 45 billion.

ADA ranks 5th in the list of largest cryptocurrencies by market capitalization.

Short term Prediction (2021)

Buy Cardano in India

ADA coin is following a downtrend and currently is trading at ₹90.9.

Focusing on technicals, the Relative Strength Index (RSI) has constantly been trading at a level of 40. It is not able to give up an upside move. The current market price is below 20,100 and 200 moving average.

The price is moving in a very tight range of ₹89 and ₹112. Breakout can happen on either side, but analysis suggests a downside breakout.

Daily traders can look for good shorting opportunities, whereas the long-term investors shall wait for the price to touch ₹78 to go long.

The current price of ADA is trading below the 200 moving average, so the only buying opportunity in ADA will arise when this resistance of 200 moving average supports ADA.

However, if the market crosses the level of ₹78 and falls downsides, there would be good shorting opportunities because the next ultimate target would be ₹64, a robust demand zone.

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