Cardano ADA price analysis: up by 1.55%

Cardano ADA price seeped upward over the past day, indicating the crypto-market is back in action with recovery momentum extending across Saturday, the 9th leading into the 10th of November, followed by the tough day on 8th

The market celebrates the break from the volatility, which ensued well over two weeks. Now, the prices are indicated to rise for all major altcoins.

1-Day Cardano ADA Price Chart (ADA/USD)

cardano ada price analysis chart 1

Cardano ADA Price Chart by Trading View

Although notable trading in the last 24-hours has been below the specified baseline resting at $0.0431, it is apparent that levels are now rising beyond this value as the 10th opens. The 9th showcased moderate inclinations with falls to the support zones of $0.041 before increasing gradually as the situation of the market improved. The price of Cardano varied between $0.0423 and $0.0423, with a low of $0.0422 and a high of $0.0426.

Technical Indicators

cardano ada price analysis chart 2

Cardano ADA Price Chart by Trading View

The red and blue price lines show the movement by the bulls have now surpassed that of the bears, and the gradient appears to be rising as indicated at the time of writing. However, on the 9th, the price closed at $0.0422.

While the 50-day Simple Moving Average (SMA) rose (gradually) irrespective of the price movement, the Exponential Moving Average (EMA) followed a downward path. They closed at $0.0422 and $0.0421, respectively.

The market cap reached between $ 1.10 Bn and $ 1.10 Bn, with a low of $ 1.10 Bn and a high of $ 1.11 Bn. The trading volume fluctuated between $ 42.50 M and $ 70.84 M, with a median of $ 62.15 MM and a seven day moving average of $ 46.43 MM.

The Relative Strength Index (RSI) closed at 53.39, following the path of the price. This movement predicted an upcoming bullish surge, which, at the time of writing, as mentioned above, is ongoing.

Background of Featured Image by Arnaud Mariat

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