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Cardano Price Analysis: ADA/USD rising slowly, 5 September.

Cardano price is moving lower against the US Dollar and Bitcoin. ADA/USD may keep on trading lower towards the $0.0600 support region if merchants stay in charge.
Cardano price is moving lower against the US Dollar and Bitcoin. ADA/USD may keep on trading lower towards the $0.0600 support region if merchants stay in charge.

Cardano Price Key Features

  • Cardano price discovered support over the $0.1000 level and it is right now moving higher against the US Dollar (tethered).
  • There is a noteworthy bullish pattern line set up with support at $0.1050 on the hourly chart of the ADA/USD pair (information feed by means of Bittrex).
  • The pair is probably going to move higher towards the $0.1080 and $0.1100 resistance levels.

Cardano price is gradually ascending against the US Dollar and Bitcoin. ADA/USD could keep on moving higher towards the $0.1100 level in the close term.

Cardano Price Analysis

There was a drawback rectification as of late in Cardano price from the $0.1104 high against the US Dollar. The ADA/USD pair declined and broke the $0.1050 support level. Be that as it may, purchasers showed up close to the $0.1010 level and the 100 hourly straightforward moving normal. Subsequently, Cardano price began a crisp upward move and exchanged over the 23.6% Fibonacci retracement level of the drop from the $0.1104 high to $0.1099 low.

Cardano price even moved over the $0.1050 with bullish moves. Be that as it may, the upside move was topped by the $0.1070 zone. It is the 61.8% Fibonacci retracement level of the drop from the $0.1104 high to $0.1099 low. In addition, there is an interfacing resistance drift line set up with current obstacle at $0.1080 on the hourly chart of the ADA/USD pair. On the drawback, the pair is trying the $0.1050 support and the 100 hourly SMA. Also, there is a noteworthy bullish pattern line set up with support at $0.1050 on a similar chart.

ADAUSD Price Chart 5 September
ADAUSD Price Chart 5 September

The chart demonstrates that ADA price is probably going to move higher towards $0.1080 as long as it is above $0.1050 and $0.1020. Above $0.1080, the price may maybe test the $0.1100 resistance territory. On the other side, a break underneath $0.1020 could drive the price towards the $0.1000 support.

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

Hourly RSI – The RSI for ADA/USD is presently close to the 50 level.

Significant Support Level – $0.1050

Significant Resistance Level – $0.1100

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Written by Coinnounce Team

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