ADA price seems to be forming a support base above the %excerpt%.415 level against the US Dollar. The price is now trading below %excerpt%.45 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near %excerpt%.425 on the 4-hours chart (data feed via Bitfinex). The price could gain bullish momentum if it clears the %excerpt%.435 and %excerpt%.440 levels. Cardano price is showing positive signs above %excerpt%.410 against the US Dollar, similar to bitcoin. ADA price could gain bullish momentum if it clears the %excerpt%.435 resistance. Cardano Price Analysis This past week, cardano price saw a minor bearish reaction below the %excerpt%.45 level against the US Dollar. The ADA/USD pair declined below the %excerpt%.442 level, but the bulls were active near the %excerpt%.415 support
Topics:
Aayush Jindal considers the following as important: ADA, Altcoin News, Cardano, News, Trading
This could be interesting, too:
Chayanika Deka writes Optimism for Republican Win Drives .2 Billion in Weekly Inflows into BTC, ETH Products
Chayanika Deka writes Bitcoin Leads Investor Activity with 9M in Outflows; But Multi-Asset Products Shine
Temitope Olatunji writes X Empire Unveils ‘Chill Phase’ Update: Community to Benefit from Expanded Tokenomics
Bhushan Akolkar writes Cardano Investors Continue to Be Hopeful despite 11% ADA Price Drop
- ADA price seems to be forming a support base above the $0.415 level against the US Dollar.
- The price is now trading below $0.45 and the 55 simple moving average (4-hours).
- There was a break above a major bearish trend line with resistance near $0.425 on the 4-hours chart (data feed via Bitfinex).
- The price could gain bullish momentum if it clears the $0.435 and $0.440 levels.
Cardano price is showing positive signs above $0.410 against the US Dollar, similar to bitcoin. ADA price could gain bullish momentum if it clears the $0.435 resistance.
Cardano Price Analysis
This past week, cardano price saw a minor bearish reaction below the $0.45 level against the US Dollar. The ADA/USD pair declined below the $0.442 level, but the bulls were active near the $0.415 support zone.
The price traded as low as $0.4156 and is currently correcting losses. There was a minor increase above the $0.425 resistance level. Besides, there was a break above a major bearish trend line with resistance near $0.425 on the 4-hours chart.
The bulls even pushed the price just above the 23.6% Fib retracement level of the recent decline from the $0.4636 swing high to $0.4156 low.
It is now trading below $0.45 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $0.435 zone. It is near the 50% Fib retracement level of the recent decline from the $0.4636 swing high to $0.4156 low.
A clear move above the $0.435 resistance might start a strong increase. The next major resistance is near the $0.442 level. A clear upside break above the $0.442 level might send the price towards the $0.450 resistance or even $0.480.
On the downside, an immediate support is near the $0.420 level. The next major support is near the $0.415 level. A clear move below the $0.415 level might send the price towards the $0.400 level. Any more losses might send the price towards the $0.380 support.
Cardano (ADA) Price
The chart indicates that ADA price is now trading below $0.450 and the 55 simple moving average (4-hours). Overall, the price could gain bullish momentum if it clears the $0.435 and $0.442 levels.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now gaining pace in the bullish zone.
4 hours RSI – The RSI for ADA/USD is now above the 50 level.
Key Support Levels – $0.420 and $0.415.
Key Resistance Levels – $0.435 and $0.442.