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#Cardano Price Analysis

Cardano Price Analysis: ADA/USD grinding higher.

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Cardano price is crushing higher against the US Dollar and Bitcoin. ADA/USD could pick up footing once it clears the $0.0710 resistance in the close term.

Cardano Price Key Features

  • Cardano price shaped a nice support base close to the $0.0600 level against the US Dollar (fastened).
  • There was a break over a pivotal declining channel with resistance at $0.0680 on the hourly graph of the ADA/USD pair (information feed by means of Bittrex).
  • The pair may keep on rising in the here and now towards the $0.0750 and $0.0800 levels.

Cardano price is crushing higher against the US Dollar and Bitcoin. ADA/USD could pick up footing once it clears the $0.0710 resistance in the close term.

Cardano Price Analysis

This week, we saw a strong decrease in Cardano price from the $0.0970 swing high against the US Dollar. The ADA/USD pair broke the $0.0800 and $0.0750 support levels. It exchanged near the $0.0600 support where purchasers rose. Afterward, Cardano price began a pleasant recuperation and moved over the $0.0650 level. There was additionally a break over the 23.6% Fibonacci retracement level of the last huge drop from the $0.0810 high to $0.0604 low.

Also, there was a break over a pivotal declining channel with resistance at $0.0680 on the hourly diagram of the ADA/USD pair. The pair even settled above $0.0700 and the 100 hourly straightforward moving normal. Right now, Cardano price is exchanging close to a critical resistance at $0.0710. It concurs with the half Fibonacci retracement level of the last critical drop from the $0.0810 high to $0.0604 low. Consequently, a fruitful break above $0.0707 and $0.0710 could open the entryways for more upsides. The following real resistances are adjusted close to the $0.0750 and $0.0800 levels.

ADAUSD Price Chart 14 September

ADAUSD Price Chart 14 September

The graph shows that ADA price is situated pleasantly over the $0.0680 support and the 100 hourly SMA. On the off chance that there is a break above $0.0710, there could be a strong ascent towards the $0.0800 zone. Then again, beneath $0.0680, Cardano price may drop back to $0.0610.

Hourly MACD – The MACD for ADA/USD is marginally in the bearish zone.

Hourly RSI – The RSI for ADA/USD is at present over the 50 level.

Real Support Level – $0.0680

Real Resistance Level – $0.0710

#Cardano Price Analysis

ADA Daily Trading Signals: 24 October

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Dominant bias for CARDANO (ADA)- Bearish

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Levels- $0.07000, $0.06800. $0.06600

 

ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south.

 

ADA 4-hour chart

ADA 4-hour chart

 

Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down it implies downward price movement of the cryptocurrency may be inevitable.

The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target

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#Cardano Price Analysis

ADA Daily Trading Signals: 23 October

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ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADA at $0.07939 in the resistance area on 21st Oct, the bears' return was gradual

Dominant bias for CARDANO (ADA) – Bearish

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Levels- $0.07000, $0.06800. $0.06600

 

ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south.

 

ADA 4-hour chart

ADA 4-hour chart

 

ADA Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down, it implies downward price movement of the cryptocurrency may be inevitable.

The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target

Continue Reading

#Cardano Price Analysis

ADA Daily Trading Signals: 19 October

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ADA Price is below the two EMAs with the stochastic oscillator signal pointing down at 43%. This implies further downward movement within the range.

Dominant bias for CARDANO (ADA) – Ranging

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Level-$0.07000, $0.06800. $0.06600

 

ADA is in a range-bound market   The loss in bullish momentum at $0.08091 in the resistance area for the continued upward journey after the retest gradually set the bears back in the market. The doji opening candle of 18th October at $0.08001 followed by the bearish hammer confirmed the bears’ takeover. ADAUSD was initially down to $0.07752. Increased bears pressure pushed the cryptocurrency further down to $0.07537 in the support area as ADAUSD enters the range.

ADA Price is below the two EMAs with the stochastic oscillator signal pointing down at 43%. This implies further downward movement within the range.

 

ADA 4-hour chart

ADA 4-hour chart

 

ADA is in consolidation and trading between $0.08050 in the upper supply area and at $0.07200 in the lower demand area of the range. A breakout at the upper resistance area or breakdown at the lower support area may occur hence patience is required for either to happen. Confirmation with good reversal candles after retest will be of great importance.

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