ADA price started a consolidation phase above .00 against the US Dollar. The price is now trading near .05 and the 55 simple moving average (4-hours). There is a major breakout pattern forming with resistance near .055 on the 4-hours chart (data feed via Bitfinex). The price might start a fresh increase if it manages to stay above the .00 zone. Cardano price is gaining pace above .02 against the US Dollar, similar to bitcoin. ADA price could start another increase if it surpassed .055 and .080. Cardano Price Analysis This week, cardano price saw a consolidation phase above the .00 support zone against the US Dollar. The ADA/USD pair formed a base above the .00 level and recently corrected a few points higher. There was a spike above the .05 and
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Aayush Jindal considers the following as important: ADA, Altcoin News, Cardano, News, Trading
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- ADA price started a consolidation phase above $1.00 against the US Dollar.
- The price is now trading near $1.05 and the 55 simple moving average (4-hours).
- There is a major breakout pattern forming with resistance near $1.055 on the 4-hours chart (data feed via Bitfinex).
- The price might start a fresh increase if it manages to stay above the $1.00 zone.
Cardano price is gaining pace above $1.02 against the US Dollar, similar to bitcoin. ADA price could start another increase if it surpassed $1.055 and $1.080.
Cardano Price Analysis
This week, cardano price saw a consolidation phase above the $1.00 support zone against the US Dollar. The ADA/USD pair formed a base above the $1.00 level and recently corrected a few points higher.
There was a spike above the $1.05 and $1.08 resistance levels. It even surpassed the 23.6% Fib retracement level of the downward move from the $1.638 high to $0.9175 low. However, the bears were active near the $1.15 zone.
The price retreated lower and traded below the $1.08 level. It is now trading near $1.05 and the 55 simple moving average (4-hours). Besides, there is a major breakout pattern forming with resistance near $1.055 on the 4-hours chart.
On the upside, the price is facing resistance near the $1.055 level. The next key resistance is near the $1.15 level, above which the price could rise steadily. The next hurdle could be near the 50% Fib retracement level of the downward move from the $1.638 high to $0.9175 low at $1.27.
A clear break above the $1.27 resistance could pump the price towards the $1.40 level. Any more gains could push the price towards the $1.50 level.
On the downside, an immediate support is near the $1.02 level. The first major support is near $1.00. Any more losses might lead the price towards the $0.95 level. A break below $0.95 could push the price towards the $0.88 level.
Cardano (ADA) Price
The chart indicates that ADA price is now trading near $1.05 and the 55 simple moving average (4-hours). Overall, the price might start a fresh increase if it manages to stay above the $1.00 zone.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now moving in the bullish zone.
4 hours RSI – The RSI for ADA/USD is now approaching the 55 level.
Key Support Levels – $1.02 and $1.00.
Key Resistance Levels – $1.055 and $1.15.