Is it Too Late to Buy Cardano? ADA Price Spikes Up 2% in 7 Days While Eco Friendly Crypto Ecoterra Surges Past $4.6 Million

cryptonews.com:

Crypto markets appear to be witnessing growing interest in eco-friendly cryptocurrencies this week, as analysts speculate about an emerging 'Green Crypto' breakout narrative.

Leading the pack is 7th ranked cryptocurrency Cardano (ADA) - posited as the first carbon neutral blockchain following the launch of Cardano Forest (a joint venture with VeriTrees).

This effort was driven by grassroots initiatives in the Cardano community such as Stefan Rehfus which lead to the first carbon neutral staking pool CO2 Pool.

These efforts are paying off amid a surge of activity for ADA price action in recent weeks, which sees Cardano poised to explode across the charts in a highly anticipated upside swing.

Yesterday's retest of support below the MA20 has been well-defended leaving ADA price trading at $0.37 (a 24 hour change of +2.6%).

Now once again atop the MA20, Cardano has demonstrated bullish poise as the MA20, MA200, and baseline support seem set to converge in coming days.

This is a view reinforced by indicators, with the RSI oscillator sat on the fence at 50.55 - indicating a make-or-break action on the horizon.

Confirmation is added from the MACD sat at 0.0015, with just marginal bullish divergence.

With markets rushing into green currencies, it seems likely Cardano could breakout to the upside in coming days - forced by a convergence of support and moving averages.

If the posited green narrative takes hold, Cardano will be facing an upside target at $0.50 (a potential +33.90% move).

However, downside risk here remains significant with a tumble to $0.30 (a fall of -17.57%) certainly not out of the picture.

This leaves ADA price prediction a risk: reward structure of 1.93 - a strong entry with serious upside potential in light of the