ADA price seems to be forming a support base above the %excerpt%.30 level against the US Dollar. The price is now trading above %excerpt%.320 and the 55 simple moving average (4-hours). There is a key contracting triangle forming with resistance near %excerpt%.350 on the 4-hours chart (data feed via Coinbase). The price could gain bullish momentum if it clears the %excerpt%.350 and %excerpt%.368 levels. Cardano price is showing positive signs above %excerpt%.320 against the US Dollar, similar to bitcoin. ADA price could gain bullish momentum if it clears the %excerpt%.350 resistance. Cardano Price Analysis This past week, cardano price started a steady increase from the %excerpt%.3200 zone against the US Dollar. The ADA/USD pair gained pace for a move above the %excerpt%.335 and %excerpt%.340 levels. It even broke the %excerpt%.350 level and
Topics:
Aayush Jindal considers the following as important: ADA, Altcoin News, Cardano, News, Trading
This could be interesting, too:
Bitcoin Schweiz News writes Die besten Bitcoin-Börsen für die Schweiz: Sortiert nach Trustpilot-Rating
Bitcoin Schweiz News writes Diese 3 Bitcoin-Börsen sind für Anfänger besonders geeignet
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
- ADA price seems to be forming a support base above the $0.30 level against the US Dollar.
- The price is now trading above $0.320 and the 55 simple moving average (4-hours).
- There is a key contracting triangle forming with resistance near $0.350 on the 4-hours chart (data feed via Coinbase).
- The price could gain bullish momentum if it clears the $0.350 and $0.368 levels.
Cardano price is showing positive signs above $0.320 against the US Dollar, similar to bitcoin. ADA price could gain bullish momentum if it clears the $0.350 resistance.
Cardano Price Analysis
This past week, cardano price started a steady increase from the $0.3200 zone against the US Dollar. The ADA/USD pair gained pace for a move above the $0.335 and $0.340 levels.
It even broke the $0.350 level and settled above the 55 simple moving average (4-hours). A high was formed near $0.3579 before there was a downside correction. The price traded as low as $0.3317 and is currently showing positive signs.
ADA price is now trading above $0.320 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $0.344 zone. It is near the 50% Fib retracement level of the downward move from the $0.3579 swing high to $0.33171 low.
The next major resistance is near the $0.350 level. There is also a key contracting triangle forming with resistance near $0.350 on the 4-hours chart. The triangle is close to the 61.8% Fib retracement level of the downward move from the $0.3579 swing high to $0.33171 low.
A clear move above the $0.350 resistance might start a strong increase. In the stated case, the price may perhaps rise towards the $0.368 resistance.
On the downside, an immediate support is near the $0.332 level. The next major support is near the $0.320 level. A clear move below the $0.320 level might send the price towards the $0.300 level. Any more losses might send the price towards the $0.280 support.
The chart indicates that ADA price is now trading above $0.320 and the 55 simple moving average (4-hours). Overall, the price could gain bullish momentum if it clears the $0.350 and $0.368 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 – $0.320 and $0.300.
Key Resistance Levels – $0.350 and $0.368.