ADA price is attempting a fresh increase above the %excerpt%.250 zone against the US Dollar. The price is now trading above %excerpt%.250 and the 55 simple moving average (4 hours). There is a key rising channel forming with support near %excerpt%.2485 on the 4-hour chart (data feed via Coinbase). The price could gain bullish momentum if it clears the %excerpt%.2550 and %excerpt%.2580 levels. Cardano price is holding the %excerpt%.250 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the %excerpt%.258 resistance. Cardano Price (ADA) Analysis This past week, Cardano price started a fresh decline from well above the %excerpt%.2600 zone against the US Dollar. The ADA/USD pair declined below the %excerpt%.2580 and %excerpt%.2550 support levels. It tested the %excerpt%.2425 zone. A low was formed
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Aayush Jindal considers the following as important: ADA, Altcoin News, Cardano, News, Trading
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- ADA price is attempting a fresh increase above the $0.250 zone against the US Dollar.
- The price is now trading above $0.250 and the 55 simple moving average (4 hours).
- There is a key rising channel forming with support near $0.2485 on the 4-hour chart (data feed via Coinbase).
- The price could gain bullish momentum if it clears the $0.2550 and $0.2580 levels.
Cardano price is holding the $0.250 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the $0.258 resistance.
Cardano Price (ADA) Analysis
This past week, Cardano price started a fresh decline from well above the $0.2600 zone against the US Dollar. The ADA/USD pair declined below the $0.2580 and $0.2550 support levels.
It tested the $0.2425 zone. A low was formed near $0.2424 and the price recently started a fresh increase. There was a move above the $0.248 and $0.250 resistance levels. The price even spiked above the 50% Fib retracement level of the downward move from the $0.2672 swing high to the $0.2424 low.
ADA price is now trading above $0.250 and the 55 simple moving average (4 hours). There is also a key rising channel forming with support near $0.2485 on the 4-hour chart.
On the upside, immediate resistance is near the $0.2550 zone. The next major resistance is near the $0.258 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.2672 swing high to the $0.2424 low.
A clear move above the $0.258 resistance might start a steady increase. In the stated case, the price may perhaps rise toward the $0.265 resistance or even $0.272 in the near term.
On the downside, immediate support is near the $0.250 level. The next major support is near the $0.248 level or the 55 simple moving average (4 hours).
A clear move below the $0.248 level might send the price toward the $0.2420 level. Any more losses might send the price toward the $0.225 support, below which the bears could aim for a test of $0.212.
The chart indicates that ADA price is now trading above $0.250 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.2550 and $0.2580 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 – $0.250 and $0.248.
Key Resistance Levels – $0.2550 and $0.2580.