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Altcoin — Opinion — Blockchain

Cardano Price Analysis: ADA/USD grinding higher.

,   and  Layla Harding
Cardano price is crushing higher against the US Dollar and Bitcoin. ADA/USD could pick up footing once it clears the $0.0710
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

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