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#Cardano Price Analysis

Cardano Price Analysis: ADA/USD undergoing correction.

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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 declined as of late and broke the $0.1000 and $0.0920 support levels against the US Dollar (fastened).
  • A recuperation is in progress inside a rising channel with resistance at $0.0915 on the hourly outline of the ADA/USD pair (information feed by means of Bittrex).
  • The pair could rectify higher, yet it might confront venders close $0.0920 or $0.0940 in the close term.

Cardano price confronted a strong offering premium as of late against the US Dollar and Bitcoin. ADA/USD is rectifying higher, yet it could confront numerous obstacles close $0.092.

Cardano Price Analysis

As of late, cardano price neglected to break the $0.1080 resistance against the US Dollar. Therefore, the ADA/USD pair declined forcefully and broke the $0.1000 support. There was additionally a break and close beneath the $0.0920 support and the 100 hourly straightforward moving normal. The price exchanged near the $0.0800 level and shaped another month to month low at $0.0808.

Afterward, cardano price began an upside remedy and moved over the $0.0840 level. It additionally exchanged over the 23.6% Fibonacci retracement level of the ongoing slide from the $0.1073 high to $0.0808 low. Right now, there is a climbing direct set up with resistance at $0.0915 on the hourly outline of the ADA/USD pair. The pair could keep on moving higher, however it might confront dealers close $0.0918 resistance (the past support). Over this, the following resistance is the half Fibonacci retracement level of the ongoing slide from the $0.1073 high to $0.0808 low at $0.0941. Hence, if the price keeps on moving higher, it could confront venders close $0.0920 or $0.0940.

ADAUSD Price Chart 7 September

ADAUSD Price Chart 7 September

The diagram shows that Cardano price is unmistakably in a bearish zone beneath $0.1000. Once the present rectification is finished, it might well slide back towards the $0.0800 level in the close term.

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

Hourly RSI – The RSI for ADA/USD is right now over the 50 level.

Real Support Level – $0.0840

Real Resistance Level – $0.0940

#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

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#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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