ADA price is struggling to clear the .20 and .25 resistance levels against the US Dollar. The price is now trading above .15 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near .25 on the 4-hours chart (data feed via Bitfinex). The price might start a fresh increase if it manages to clear the .25 resistance zone. Cardano price is struggling below the .25 resistance against the US Dollar, unlike bitcoin. ADA price must clear .25 to start a fresh increase. Cardano Price Analysis After a close above .20, cardano price attempted a break above the .25 resistance zone against the US Dollar. The ADA/USD pair spiked above .25, but it failed to stay in the positive zone. It traded as high as .298
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- ADA price is struggling to clear the $2.20 and $2.25 resistance levels against the US Dollar.
- The price is now trading above $2.15 and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $2.25 on the 4-hours chart (data feed via Bitfinex).
- The price might start a fresh increase if it manages to clear the $2.25 resistance zone.
Cardano price is struggling below the $2.25 resistance against the US Dollar, unlike bitcoin. ADA price must clear $2.25 to start a fresh increase.
Cardano Price Analysis
After a close above $2.20, cardano price attempted a break above the $2.25 resistance zone against the US Dollar. The ADA/USD pair spiked above $2.25, but it failed to stay in the positive zone.
It traded as high as $2.298 before there was a sharp bearish wave. The price declined below the $2.15 support and the 55 simple moving average (4-hours). The price even traded below the $2.05 level. A low is formed near $2.00 and it is now slowly rising.
There was a break above the $2.15 level and the 55 simple moving average (4-hours). The price climbed above the 50% Fib retracement level of the downward move from the $2.29 swing high to $2.00 low. An immediate resistance on the upside is near the $2.20 level.
The 61.8% Fib retracement level of the downward move from the $2.29 swing high to $2.00 low is also near the $2.20 level. The next major resistance is near the $2.25 level.
There is also a key bearish trend line forming with resistance near $2.25 on the 4-hours chart. If there is an upside break above the $2.25 zone, the price could rally above $2.30. The next major resistance could be near the $2.50 level.
On the downside, an immediate support is near the $2.15 level. The first major support is near $2.07. Any more losses might lead the price towards the $2.00 level, below which the bears could gain strength in the near term.
Cardano (ADA) Price
The chart indicates that ADA price is now trading above $2.15 and the 55 simple moving average (4-hours). Overall, the price might start a fresh increase if it manages to clear the $2.25 resistance zone.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is moving in the bullish zone.
4 hours RSI – The RSI for ADA/USD is now back above the 50 level.
Key Support Levels – $2.15 and $2.07.
Key Resistance Levels – $2.20 and $2.25.