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Cardano price: Analyst explains ADA price outlook over coming weeks

Cardano (ADA) is trading near $0.53, nearly in the green on Thursday evening because the crypto market looks to carry onto yesterdays gains.

The ADA/USD pair is however facing some pressure with prices falling from intraday highs above $0.54, a cost level thats more likely to prove imperative to bulls likelihood of breaking higher.

Cardano price outlook

ADA has recently hit resistance at the zone this week, dipping from the supply reload area to the touch lows of $0.50 on Tuesday. A previous rejection at the particular level also saw Cardano price fall to $0.49.

Crypto analyst Michael van de Poppe however thinks buyers could still force a rally should they hold above the critical 50-day moving average.

Cardano price chart and key prices. Source: Michael van de Poppe

According to the chart above the analyst shared on Twitter, that price gauge remains above $0.47. The cryptocurrency has in the last couple of days held firm at the MA. Van de Poppe sees an upside trigger coming to $0.55, in which a retest could start a breakout to new resistance round the $0.66-$0.70.

If the breakout happens, the analyst sees a 20% rally by early September.

Cardano follows the program and looks ready for continuation, because the entire market looks ready for continuation. Looking to see $0.70 as you possibly can within the next couple of weeks, he predicted.

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