The Cardano price has risen sharply in recent days. This is due to a huge increase in buying pressure. Several analysts expect the ADA price to rise to $1.45 soon.
ADA price fluctuates
The Cardano price is thus on the rise and the increase in buying pressure seems to indicate that the bullish trend may continue for a longer period of time. ADA must first overcome one crucial hurdle to confirm this.
The Cardano price rose about 26% between January 10 and January 13, hovering around $1.35. Shortly thereafter, ADA fell 10% and the trend reversed. As a result, the price fell back to $1.23 on January 14. Since then, however, the positivity around Cardano has completely returned. 1 ADA token is already worth $1.39 at the time of writing. Especially the breakthrough of the $1.38 from just now a good sign.
In a very bullish case, ADA will increase the weeklyresistance barrier stretching from $1.46 to $1.52.
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On the other hand, if the Cardano price falls back below the $1.35 barrier, that could be a negative sign for investors. This rejection could lead to a downward trend. This would mean that ADA will slide back towards the USD 1.20 weekly support level. Here, buyers can team up for a comeback. However, for now the Cardano charts look very positive.