Cardano’s native token, ADA, found support just under the $1 mark but so far failed to create bullish momentum to reclaim back above it, but the next price move is imminent. Key Support levels: $0.91, $0.79 Key Resistance levels: $1, $1.2 ADA found support on top of the $0.91 level after the price broke below $1. Since breaking below the milestone level, it had turned into key resistance. Because bears did not manage to push ADA much lower, bulls may take advantage of this...Read More »
ADA Price Analysis: Cardano Drops Below $1 Following 20% Weekly Decline
Cardano was no exception to the market’s decline. After it failed to break out of the descending channel (marked yellow), the bears were able to push the price what the next destination is. Technical Analysis Technical Analysis By Grizzly The Daily Chart: On the daily timeframe, Cardano is moving down in a descending channel and has corrected from the recent 60% spike to the Fibonacci Retracement at 0.618. The most important for the bulls is to push the price back above $1,...Read More »
Retail Cardano Wallets Reached New All-Time High as ADA Jumped 5%
On-chain analysis has shown that the number of mid-size ADA addresses has reached ATH. This may have contributed to the recent rally of ADA breaking from the months-long downward channel and now sitting above $1.20. In contrast, addresses holding more than 10K ADA have reached ATL. This could be a warning sign that mega whales may have been gradually decreasing their exposure to ADA. According to the latest Cardano on-chain analysis provided by Santiment, the number of...Read More »
ADA Price Analysis: Cardano Attempts to Break Above $1.2, How High Can It Go?
Key Support levels: $1, $0.78 Key Resistance levels: $1.2, $1.6 ADA’s bullish momentum continues with the price challenging the $1.2 resistance. The following major resistance after that would be at $1.6. The support at $1 seems less likely to be retested as $1.2 will turn into support if this price action is maintained. Chart by TradingViewTechnical Indicators Trading Volume: The volume is not great. Therefore, the strength of this push may come into question if it doesn’t...Read More »
Cardano Price Analysis: ADA Fails At Critical Resistance, Here is The Level to Watch
After surging 60% from the bottom of the marked descending channel during the second half of March, Cardano has now reached a critical resistance level at the top of the channel. The bulls are trying to break out of it, however, they have so far failed in closing a daily candle above it. Unlike BTC and ETH, which are struggling at the daily MA-200 line, ADA has not yet managed to touch it. The important moving average currently lies around $1.5. Technical analysis by Grizzly...Read More »
ADA Price Analysis: Cardano Hits $1.2 Resistance, What’s Next?
Key Support levels: $1, $0.78 Key Resistance levels: $1.2, $1.6 ADA’s bullish momentum took it all the way to $1.2, which was the main target for this rally. At the time of this writing, it seems unlikely for ADA to break above this level, and a short pullback might be in the cards. The major support is found at $1, but ADA may not fall that low if buyers remain interested. Chart by TradingViewTechnical Indicators Trading Volume: The volume is decreasing, and this supports...Read More »
Cardano Price Analysis: ADA Building Bullish Cup & Handle Pattern with Target at $1.5
After tumbling 76% from its all-time high, Cardano found support at the bottom of the descending channel around $0.75 and was able to reclaim almost 50%. In a few weeks, ADA returned above the converted mark at $1. The Daily Chart Technical analysis by Grizzly On the daily timeframe, after a significant price surge, ADA reached the top of the descending channel as shown on the chart below (marked by yellow), which intersects with the static resistance at $1.2 (marked by...Read More »
Cardano Price Analysis: All Eyes on $1 as ADA Explodes 8% Daily
Key Support levels: $0.78, $0.68 Key Resistance levels: $1, $1.2 After successfully testing the $0.78 level as support, ADA’s price quickly moved higher and is now approaching the key resistance at $1, which will be a significant test for buyers. The indicators are also turning quite bullish on this most recent price action, but volume continues to be lacking. Chart by TradingViewTechnical Indicators Trading Volume: The volume remains flat so far. This is not ideal, but all...Read More »
Cardano Price Analysis: ADA Soars 12% in a Week, What’s the Next Target?
After recording an all-time high at $3.10, Cardano entered into a correction that’s ongoing for 200 days so far. Meanwhile, bad news, such as delisting from the eToro exchange, has become a catalyst for further price retracement. Despite the rumors of burn mechanism rollout, there is no significant reaction. Technical Analysis by Grizzly The Daily Chart: Source: TradingViewOn the daily timeframe, ADA is trading in a descending channel (marked by yellow). During the downtrend,...Read More »
Cardano Price Analysis: ADA Facing Downtrend, But These Signs Are Promising in The Mid-term
Cardano, one of the altcoins with exceptional performance in 2021, has now dropped 75 percent from its ATH. Recently, ADA lost the critical support level at $1. The price is now declining, forming a falling wedge, accompanied by 100-day MA (marked by a white line on the daily chart). The Daily Chart (USD Pair) Technical analysis by Grizzly The OBV indicator is also dropping below its downtrend line. Assessing these bearish signals, breaking above the red zone (static...Read More »