ADA price is attempting a fresh increase from the %excerpt%.5690 zone against the US Dollar. The price is now trading above %excerpt%.620 and the 55 simple moving average (4 hours). There is a connecting bullish trend line forming with support at %excerpt%.650 on the 4-hour chart (data feed via Coinbase). The price could gain bullish momentum if it clears the %excerpt%.690 and %excerpt%.700 levels. Cardano price is holding the %excerpt%.620 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the %excerpt%.690 resistance. Cardano Price (ADA) Analysis This past week, Cardano price started a fresh decline from well above the %excerpt%.750 zone against the US Dollar. The ADA/USD pair declined below the %excerpt%.720 and %excerpt%.700 support levels. It tested the %excerpt%.5690 zone. A low was
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- ADA price is attempting a fresh increase from the $0.5690 zone against the US Dollar.
- The price is now trading above $0.620 and the 55 simple moving average (4 hours).
- There is a connecting bullish trend line forming with support at $0.650 on the 4-hour chart (data feed via Coinbase).
- The price could gain bullish momentum if it clears the $0.690 and $0.700 levels.
Cardano price is holding the $0.620 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the $0.690 resistance.
Cardano Price (ADA) Analysis
This past week, Cardano price started a fresh decline from well above the $0.750 zone against the US Dollar. The ADA/USD pair declined below the $0.720 and $0.700 support levels.
It tested the $0.5690 zone. A low was formed near $0.5690, and the price recently started a fresh increase. There was a move above the $0.600 and $0.615 resistance levels. The price even climbed above the 23.6% Fib retracement level of the downward move from the $0.8102 swing high to the $0.5690 low.
ADA price is now trading above $0.620 and the 55 simple moving average (4 hours). There is also a connecting bullish trend line forming with support at $0.650 on the 4-hour chart.
On the upside, immediate resistance is near the $0.690 zone. It is close to the 50% Fib retracement level of the downward move from the $0.8102 swing high to the $0.5690 low. The next major resistance is near the $0.700 level.
A clear move above the $0.700 resistance might start a steady increase. In the stated case, the price may perhaps rise toward the $0.750 resistance or even $0.7650 in the near term.
On the downside, immediate support is near the $0.650 level and the trend line. The next major support is near the $0.620 level. A clear move below the $0.620 level might send the price toward the $0.600 level. Any more losses might send the price toward the $0.5690 support, below which the bears could aim for a test of $0.550.
The chart indicates that ADA price is now trading above $0.620 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.690 and $0.700 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 – $0.650 and $0.620.
Key Resistance Levels – $0.690 and $0.700.