Cardano’s price began a gradual increase over the resistance of $0.3850. ADA wants to see a price close over $0.40 before it gains bullish momentum.
- ADA started a new increase, trading above $0.3880.
- Price is above the simple 100-hour moving average and $0.390.
- On the hourly chart for the ADA/USD, there is a strong bullish trendline with support located at $0.3935 (data). source Kraken (from Kraken)
- It is possible that the pair will gain bullish momentum by closing above the $0.40 area.
Cardano price is expected to increase steadily
Cardano’s price has started to rise from $0.3350 in recent sessions. ADA climbed over the resistance levels of $0.350 and $3650, as well. Bitcoin The following are some examples of how to get started: Ethereum.
Even cleared the resistance at $0.3880, it tested $0.4050. The price has now reached a high of $0.4047. The price moved below $0.400, and then $0.3980. Price tested the Fib level 23.6% of the move upward from the swing low $0.3577 to the high $0.4047.
ADA’s price has now moved above $0.380, and is trading over the 100-hour simple moving average. On the hourly chart for the ADA/USD, a bullish trendline is forming at support $0.3935.
Price could encounter resistance around $0.400 in case there is a further upward trend. The first resistance lies near $0.4050. First resistance near $0.4050. next The key resistance may be at $0.4250. The price may start to rally if the resistance of $0.4250 is closed above. The price might rise to the area of $0.450 in the above case. If there are any more gains, the price could move towards $0.4650.
Downside Correction in ADA?
Cardano’s price could begin a downward correction if the resistance $0.400 level is not overcome. The trend line and $0.3960 are the immediate support levels on the downside.
You can also find out more about the following: next Major support lies near the level $0.3810 and 50% Fib of the move upwards from the swing low $0.3577 to the high $0.4047. If the price breaks below $0.3810, it could lead to a move towards $0.3750. The next Major support near $0.350 is the level.
Technical Indicators
Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level.
Major Support Levels – $0.3960 and $0.3810.
Major Resistance Levels – $0.4000 and $0.4050.
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Source: www.newsbtc.com