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Cardano Price Analysis: ADA/USD set to break past the $1.50 resistance

Chainlink price analysis

TL;DR Breakdown

  • Cardano price analysis is bearish today.
  • ADA/USD is currently trading at $1.45.
  • New high reached $1.50 overnight.

The Cardano price analysis is bearish today, as we anticipate a decrease following a strong rally over the last 24 hours. ADA/USD has come up against the next significant barrier at $1.50, which will most likely require a retrace before more advance can be attempted.

A breakdown below $1.2 would be a major bearish signal, but we do not anticipate this to happen in the short term due to significant support at that level.

ADA/USD has come up against the next significant barrier at $1.5, which will most likely require a retrace before more advance can be attempted. A breakdown below $1.2 would be a major bearish signal, but we do not anticipate this to happen in the short term due to significant support at that level. The Bollinger bands are beginning to tighten, so we could see a more significant move in either direction in the next few days.

The Cardano price analysis is bearish today, as we anticipate a retrenchment following a strong rally over the last 24 hours. ADA/USD has come up against the next significant barrier, which will most likely require a retrace before more advance can be attempted. A breakdown below would be a major bearish signal, but we do not anticipate this to happen in the short term due to significant support at that level. The Bollinger bad

ADA/USD 4-hour chart: ADA looks to retrace?

We see bearish momentum resuming after an extended period of bullish momentum on the 4-hour chart. According to the previous action, the Cardano price is most likely to retreat next.

Cardano Price Analysis: ADA/USD set to break past the $1.50 resistance 1
ADA/USD 4-hour chart. Source: TradingView

Cardano price action has been confined in an increasingly tighter range over the last weeks. ADA/USD initially found support at $1.20 on December 4th and subsequently tested it several times throughout the month.

Cardano price analysis is bearish today, as we anticipate a retrenchment following a strong rally over the last 24 hours. ADA/USD has come up against the next significant barrier at $1.50, which will most likely require a retrace before more advance can be attempted. A breakdown below would be a major bearish signal, but we do not anticipate this to happen in the short term due to significant support at that level.

The Cardano price analysis is bearish today, as we anticipate a retrenchment following a strong rally over the last 24 hours. ADA/USD has come up against the next significant barrier at $.50, which will most

ADA set the last lower high at $1.30 on December 19th. From there, the $1.20 support reversed the market again, this time sending the market to break higher.

The Cardano price made a rapid ascent, peaking at $1.37 before returning to consolidation. As a result of some consolidation, the Cardano price rose above $1.40 next resistance yesterday afternoon. ADA/USD plummeted below $1.50 overnight, only to be driven back again by selling pressure.

Cardano Price Analysis: Conclusion 

The price of Cardano is declining today as we expect a retracement to follow later today when bulls are finally exhausted. As support, ADA/USD will likely move to retest previous resistance at $1.40.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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