Cardano’s price has found support at $0.3050. ADA has now recovered higher and may aim to gain more gains over the $0.3360 resistant.
- ADA started a new wave of price recovery after it reached $0.3050.
- Price is above the simple 100-hour moving average and $0.320.
- On the hourly chart for the ADA/USD, there was a breakout above a bearish trendline with resistance of $0.3245 (data). source Kraken is a good example.
- If it stays above the $0.3200 zone of support, then this pair may continue to rise.
Cardano Prices Show Signs Of Steady Recover
Cardano’s price found support after it fell to a low of $0.3050. The price of Cardano has formed a new low at $0.3050. It is currently attempting to make a similar recovery. Bitcoin You can also find out more about the following: Ethereum.
The price rose above resistance levels of $0.3220 and $0.3200. A move was made above the level for the 23.6% Fib of the move downward from the $0.3673 high swing to the $0.3050 bottom. On the hourly chart for the ADA/USD, there has also been a breakout above a bearish trendline with resistance of $0.3245.
Cardano is currently trading at a price above the 100 hour simple moving average and $0.4220. Price might encounter resistance on the upside near $0.330. First resistance near the Fib 50% retracement of the decline from the $0.3673 high to the low is $0.3360.
You can also find out more about the following: next The key resistance may be $0.3450. The price may start to rally if the resistance of $0.3450 is closed above. If the case is stated, then the price may rise towards the region of $0.3680. For any further gains it may be necessary to move the price towards $0.400.
A New Decline for ADA?
Cardano could experience another drop if it fails to rise above the resistance level of $0.3360. Near the $0.320 support level, there is immediate support for the downside.
You can also find out more about the following: next Major support lies near $0.3120. The $0.3120 support level is the first major resistance. The next Bulls could emerge at the $0.3000 support 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 – $0.3200 and $0.3050.
Major Resistance Levels – $0.3360 and $0.3450.
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Source: www.newsbtc.com