ADA price extended its rally above the .250 resistance and .350 against the US Dollar. The price is trading nicely above the .200 support and the 55 simple moving average (4-hours). There is a major bullish trend line forming with support near .180 on the 4-hours chart (data feed via Bitfinex). The price is likely to continue higher above the .30 unless there is a close below .150. Cardano price is trading in a strong uptrend above .000 against the US Dollar, similar to bitcoin. ADA price is likely to continue higher towards the .50 resistance zone. Cardano Price Analysis Cardano price remained in a strong uptrend above the .0000 pivot level against the US Dollar. The ADA/USD pair even gained pace above the .20 and .250 levels to move further
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Aayush Jindal considers the following as important: ADA, Altcoin News, Cardano, News, Trading
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- ADA price extended its rally above the $1.250 resistance and $1.350 against the US Dollar.
- The price is trading nicely above the $1.200 support and the 55 simple moving average (4-hours).
- There is a major bullish trend line forming with support near $1.180 on the 4-hours chart (data feed via Bitfinex).
- The price is likely to continue higher above the $1.30 unless there is a close below $1.150.
Cardano price is trading in a strong uptrend above $1.000 against the US Dollar, similar to bitcoin. ADA price is likely to continue higher towards the $1.50 resistance zone.
Cardano Price Analysis
Cardano price remained in a strong uptrend above the $1.0000 pivot level against the US Dollar. The ADA/USD pair even gained pace above the $1.20 and $1.250 levels to move further into a positive zone.
As a result, the price spiked above the $1.350 level and traded to a new yearly high at $1.488. Recently, there was a downside correction below the $1.400 and $1.350 levels. The price even traded below the 50% Fib retracement level of the upward move from the $0.991 swing low to $1.488 high.
However, the price is finding strong bids near the $1.200 zone. It is also trading nicely above the $1.200 support and the 55 simple moving average (4-hours). Moreover, there is a major bullish trend line forming with support near $1.180 on the 4-hours chart.
The next key support is near the $0.1810 level. It is close to the 61.8% Fib retracement level of the upward move from the $0.991 swing low to $1.488 high. The main support is now forming near the $1.150 level and the 55 simple moving average (4-hours).
Any more losses might call for a move towards the $1.050 and $1.020 support levels. On the upside, the price is facing a strong resistance near the $1.300 level. A close above the $1.300 level is likely to start a fresh increase towards the $1.450 and $1.500 levels.
Cardano (ADA) Price
The chart indicates that ADA price is clearly trading nicely above $1.200 and the 55 simple moving average (4-hours). Overall, the price is likely to continue higher above the $1.30 unless there is a close below $1.150.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is showing positive signs in the bullish zone.
4 hours RSI – The RSI for ADA/USD is moving closer to the 50 level.
Key Support Levels – $1.200 and $1.150.
Key Resistance Levels – $1.30 and $1.45.