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Cardano (ADA) Price Analysis: More Gains Likely Above $0.38

Summary:
ADA price seems to be forming a support base above the %excerpt%.34 level against the US Dollar. The price is now trading above %excerpt%.332 and the 55 simple moving average (4-hours). There was a break below a connecting bullish trend line with support near %excerpt%.350 on the 4-hours chart (data feed via Bitfinex). The price could gain resume its increase if it clears the %excerpt%.370 and %excerpt%.380 levels. Cardano price is showing positive signs above %excerpt%.340 against the US Dollar, similar to bitcoin. ADA price could extend its increase if it clears the %excerpt%.380 resistance. Cardano Price Analysis This week, cardano price started a strong increase above the %excerpt%.300 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the %excerpt%.320 and %excerpt%.325 levels. It even broke the

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  • ADA price seems to be forming a support base above the $0.34 level against the US Dollar.
  • The price is now trading above $0.332 and the 55 simple moving average (4-hours).
  • There was a break below a connecting bullish trend line with support near $0.350 on the 4-hours chart (data feed via Bitfinex).
  • The price could gain resume its increase if it clears the $0.370 and $0.380 levels.

Cardano price is showing positive signs above $0.340 against the US Dollar, similar to bitcoin. ADA price could extend its increase if it clears the $0.380 resistance.

Cardano Price Analysis

This week, cardano price started a strong increase above the $0.300 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the $0.320 and $0.325 levels.

It even broke the $0.332 level and settled well above the 55 simple moving average (4-hours). It traded as high as $0.3699 and recently started a downside correction. There was a move below the $0.360 and $0.350 levels. The price declined below the 23.6% Fib retracement level of the upward wave from the $0.3083 swing low to $0.3699 high.

There was a break below a connecting bullish trend line with support near $0.350 on the 4-hours chart. It is now trading above $0.332 and the 55 simple moving average (4-hours).

On the upside, an immediate resistance is near the $0.355 zone. A clear move above the $0.355 resistance might start a strong increase. The next major resistance is near the $0.370 level. A clear upside break above the $0.370 level might send the price towards the $0.38 resistance or even $0.40.

On the downside, an immediate support is near the $0.340 level. It is near the 50% Fib retracement level of the upward wave from the $0.3083 swing low to $0.3699 high.

The next major support is near the $0.332 level. A clear move below the $0.332 level might send the price towards the $0.300 level. Any more losses might send the price towards the $0.280 support.

Cardano (ADA) Price Analysis: More Gains Likely Above $0.38

Cardano (ADA) Price

The chart indicates that ADA price is now trading above $0.332 and the 55 simple moving average (4-hours). Overall, the price could gain bullish momentum if it clears the $0.370 and $0.380 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 – $0.340 and $0.332.

Key Resistance Levels – $0.355 and $0.370.

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