Cardano’s price began to rise above resistance of $0.340. ADA has now started to show positive signs, and could rise even higher towards $0.380.
- ADA prices started a wave of recovery from $0.3220.
- Price is above the simple 100-hour moving average and $0.350.
- On the hourly chart for the ADA/USD, there was a breakout above a major bearish trendline with resistance at $0.4330 (data). source Kraken is a good example.
- The pair may continue to rise if the price remains steady above $0.3440.
Cardano prices start to rise steadily
Cardano’s price started to rise after it formed a strong base at the level of $0.330. The $0.3350 resistance level and the $0.340 support level were both pushed up. Bitcoin The following are some examples of how to get started: Ethereum.
On the hourly chart for the ADA/USD, there was also a breakout above a major bearish trendline with resistance of $0.3430. Even the pair spiked over $0.350. Price is consolidating its gains after forming a high at $0.3587.
Cardano is trading now above $0.350, the 100 hourly moving average and the Fib 23.6% retracement of the move upward from the swing low $0.3300 to the high $0.3587. Cardano’s price has now risen above $0.350 as well as the 100 hourly simple moving ordinary.
The price could face resistance on the upside near $0.3580. First resistance near $0.3620. First resistance near $0.3620. next The key resistance may be $0.3650. A close above resistance at $0.3650 could trigger a powerful rally. If the case is stated, then the price may rise towards the region of $0.380. For any further gains it may be necessary to move the price towards $0.400.
Do Dips support ADA?
Cardano could experience another drop if it fails to rise above the resistance level of $0.3580. The $0.350 price level is the immediate support to the downside.
You can also find out more about the following: next Major support lies near the level $0.3440 or 50% Fib of the move upwards from the swing low $0.3300 to the high $0.3587. If the price breaks below $0.3440, it could lead to a move towards $0.330. The next The bulls may emerge near the level of $0.320, which is a major support.
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 – $0.3500 and $0.3440.
Major Resistance Levels – $0.3580 and $0.3650.
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Source: www.newsbtc.com