Ethereum
$ 1,196.17 2.50%
Solana
$ 38.36 5.49%
Dogecoin
$ 0.072114 1.49%
ApeCoin
$ 4.92 0.12%
Bitcoin
$ 20,857.00 2.00%
BNB
$ 234.06 1.49%

Cardano Price Analysis: ADA sets lower high at $1.89

CRO price analysis

TL;DR Breakdown

  • Cardano price analysis is bullish today.
  • ADA/USD set another higher low above $2 yesterday.
  • Bullish momentum is slowly picking up momentum this morning.

ADA is currently in a bearish trend, but the price analysis of Cardano indicates that it’s time to be bullish. After a higher low was established yesterday, we expect the $2.10 resistance to be broken next. As a result, ADA/USD will most likely break out of its current consolidation.Cardano Price Analysis: ADA sets lower high at $1.89 1Cryptocurrency heat map. Source: Coin360

The overall market saw some bullish momentum return over the last 24 hours. The market leaders, Bitcoin and Ethereum, are up by 4.38% and 5.35%, respectively. Meanwhile, Hex (HEX) is still the top performer, with a gain of over 12 per cent.

Cardano price movement in the last 24 hours: Cardano moves higher after retesting the $1.8 support

The price of ADA/USD was in a range of $1.86 to $1.89over the past 24 hours, showing moderate volatility. Trading volumes have decreased by 20.9 percent and stand at $1.5 billion, while the market capitalization is around $68 billion, placing it in sixth spot worldwide.

ADA/USD 4-hour chart: ADA looks to break $2.10 next? 

On the 4-hour chart, we can see bullish momentum returning this morning, likely leading to a break higher today.

Cardano Price Analysis: ADA sets lower high at $1.89 2

ADA/USD 4-hour chart. Source: TradingView

The Cardano price has been seeing bearish momentum return in recent days. On the 9th of November, after a consolidation around the $2 mark at the start of November, a solid spike upward sent prices to $2.375, establishing a significant high.

The price of Cardano was hit by a strong retracement, which resulted in most of the gain being momentarily erased on November 10th. Cardano has established both lower highs and higher lows since then, suggesting consolidation in an ever tighter range.

After another failed attempt to break down below $0.0080 yesterday, bullish momentum has resumed today. We may see Cardano price test the $2.10 resistance, which has served as a barrier for bulls to advance, once again.

Cardano Price Analysis: Conclusion 

The Cardano price is currently recovering, with another higher low established after consolidation over the weekend. As a result, ADA/USD has laid the groundwork for future gains later today.

While waiting for Cardano to move further, read our guides on NFT tokens, Gemini Exchange Review, and Sunacrip.

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.

Related News

Hot Stories

Chainlink price analysis: LINK value drops to $6.5 after a bearish slide
Cryptopolitan to host Vidma in upcoming Web3 Masterminds session
Bitcoin price analysis: BTC retests $21,500, swift drop to $20,000 incoming?
Eminem promotes a BAYC video alongside Snoop Dogg
Ossification of Bitcoin

Follow Us

Industry News

Nexo reacts to new Emblezzlement allegations and threatens legal action
Bear market 2022 hits crypto to its worst in historic records
Anonymous plans to bring Do Kwon to justice
Mastercard survey: 50% of Latin Americans use crypto
Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b