Ardor Price Analysis: ARDR above support at $0.2828, what next?

Ardor price analysis

TL;DR Breakdown

  • Ardor price analysis for today is bullish, down by 0.5%.
  • ARDR is currently above the support level at $0.2828.
  • The nearest resistance is at $0.2971, which remains unbroken.

Ardor price analysis is bearish for today as the price is up by 0.5%, at $0.2909. The current price resistance is at $0.2971, which currently holds, and it seems that the buying pressure is not strong enough to break the resistance. The nearest support for ARDR/USDT in the 4-hour charts can be seen at $0.2828. If the price falls below this, we might see lower lows.

According to the data by Coinmarketcap, the 24-hour trading volume of the cryptocurrency has dropped by 3.08%. Furthermore, the market cap of the cryptocurrency rose by almost 2.74%. If the trend is maintained, the price might turn bearish soon.

The price today started at $0.2886 and is at $0.2931. This can be considered as a small bullish growth after the 8.54% drop the day before. The price drop can be associated with Bitcoin that dropped by more than 8% due to China’s crackdown.

Ardor price analysis: Technical indicators gradually turning bullish

After the sharp price decline the day before, the price is moving upwards. The price dropped to the lower end of the Bollinger Bands the day before, and now, bulls are taking the price upwards after a failed attempt to break out from the lower end of the Bands.

The key Moving Averages, on the other hand, are above the price movement. This means that the buyers will try to take the price of the coin upwards and attempt to reclaim the key Moving Averages on the 4-hour chart.

Ardor price analysis
Ardor price analysis on the chart by TradingView

According to the Ardor price analysis, the ARDR/USDT pair is moving with a positive gradient on the RSI. However, the current value of the RSI reads a value above 40 but below 50. This means that the price action is still in the bearish zone, but the buying pressure is gradually increasing.

The MACD indicator shows that the histogram is currently green and the blue line (MACD line) is above the signal line (orange line). This is the representation of a bullish situation on the 4-hour chart.

Ardor Price Analysis: ARDR above support at $0.2828, what next? 1
Ardor price analysis on the chart by TradingView

Ardor price analysis: Conclusion

Ardor price analysis is bullish for today as the bulls try to breach the resistance present at $0.2971. If the bulls keep up the pace, we can see lower highs today. Although the trading volume is low, the crypto world is always full of surprises. Also, you can go ahead and view our long-term Price Predictions as well.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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