Thursday , November 14 2024
Home / Altcoins / Cardano (ADA) Price Analysis: Dips Remain Attractive To The Bulls

Cardano (ADA) Price Analysis: Dips Remain Attractive To The Bulls

Summary:
ADA price is correcting gains from the %excerpt%.422 zone against the US Dollar. The price is now trading above %excerpt%.395 and the 55 simple moving average (4-hours). There is a major contracting triangle forming with support near %excerpt%.395 on the 4-hours chart (data feed via Bitfinex). The price could gain resume its increase if it stays above the %excerpt%.395 and %excerpt%.384 support levels. Cardano price is correcting lower below %excerpt%.412 against the US Dollar, similar to bitcoin. ADA price could extend its decline if it breaks the %excerpt%.395 support. Cardano Price Analysis This past week, cardano price started a steady increase above the %excerpt%.375 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the %excerpt%.385 and %excerpt%.392 levels. It even broke the %excerpt%.400 level and

Topics:
Aayush Jindal considers the following as important: , , , ,

This could be interesting, too:

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

Temitope Olatunji writes X Empire Unveils ‘Chill Phase’ Update: Community to Benefit from Expanded Tokenomics

  • ADA price is correcting gains from the $0.422 zone against the US Dollar.
  • The price is now trading above $0.395 and the 55 simple moving average (4-hours).
  • There is a major contracting triangle forming with support near $0.395 on the 4-hours chart (data feed via Bitfinex).
  • The price could gain resume its increase if it stays above the $0.395 and $0.384 support levels.

Cardano price is correcting lower below $0.412 against the US Dollar, similar to bitcoin. ADA price could extend its decline if it breaks the $0.395 support.

Cardano Price Analysis

This past week, cardano price started a steady increase above the $0.375 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the $0.385 and $0.392 levels.

It even broke the $0.400 level and settled well above the 55 simple moving average (4-hours). It traded as high as $0.421 and recently started a downside correction. There was a move below the $0.405 and $0.400 levels. The price even spiked below the 23.6% Fib retracement level of the upward move from the $0.3454 swing low to $0.4213 high.

It is now trading trading above $0.395 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $0.4065 zone. The next major resistance is near the $0.420 zone.

A clear move above the $0.420 resistance might start a strong increase towards $0.45. Any more gains above the $0.45 resistance might send the price towards the $0.485 resistance or even $0.50.

On the downside, an immediate support is near the $0.395 level. There is also a major contracting triangle forming with support near $0.395 on the 4-hours chart. The next major support is near the $0.384 level. It is near the 50% Fib retracement level of the upward move from the $0.3454 swing low to $0.4213 high.

A clear move below the $0.384 level might send the price towards the $0.365 level. Any more losses might send the price towards the $0.345 support.

Cardano (ADA) Price Analysis: Dips Remain Attractive To The Bulls

Cardano (ADA) Price

The chart indicates that ADA price is now trading above $0.395 and the 55 simple moving average (4-hours). Overall, the price could gain resume its increase if it stays above the $0.395 and $0.384 support levels.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is now losing pace in the bullish zone.

4 hours RSI – The RSI for ADA/USD is now above the 50 level.

Key Support Levels – $0.395 and $0.384.

Key Resistance Levels – $0.405 and $0.420.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *