Cardano ADA Price: Closes below $0.0400

Cardano ADA price closed beneath the $0.0400 mark to attain a closing price of $0.0398 which showcased an increase of 1.27% over the twenty-four hours of its movement when contrasted to the previous day where the coin closed at $0.0393.

Cardano ADA Price Analysis – 28th November (ADA/USD)

Cardano ADA Price Analysis Chart 1

Cardano ADA Price Analysis by Trading View

As indicated by the graph featured above, the Cardano ADA price majorly showed an increase in price as it moved from the 28th into the 29th of November. This indicates that the bearish effect has begun to withdraw. The total gain was calculated to be approximately 1.27% over the past twenty-four hours. 

The coin fell over support zones of $0.0385 and $0.0384 in one day at approximately 10:44 GMT and 18:49 GMT. The Cardano ADA value reached its lowest at nearly 11:14 GMT with a price of $0.0384. The coin later closed at the $0.0398 mark.

Technical Indicators

Cardano ADA Price Analysis Chart 2

Cardano ADA Price Analysis by Trading View

As showcased in the full-featured chart above, the Cardano price deviated from its moving averages. This proves the variation in the movement of the amount, thus indicating the after-effects of the volatility in the price. The 50-Day Simple Moving Average (SMA) closed at $0.0388, whereas the 20-Day Exponential Moving Average (EMA) closed at $0.0392. 

The Relative Strength Index (RSI) closed at the 59.64 value, which displays the potential for the bullish upsurge which may be underway. This can be inferred from the highest amount the RSI reached at 70.98. 

Although the coin is tracing a comparatively bearish path than that from the beginning of last week, it appears to be gradually making its way upwards.

Featured Image Background by Guillaume Galtier