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Cardano Price Analysis: ADA/USD charts bearish course under $1.037

Cardano price analysis

TL;DR Breakdown

  • ADA/USD is currently trading at $1.03.
  • Cardano price analysis predicts a bearish trend.
  • Support is present at the $0.1 level.

Cardano‘s ADA has recovered from $0.88 to $1.037, which is a good sign for traders and investors alike as Cardano price analysis predicts that we’ll see decent gains within the next few weeks. The $1.5 resistance is a key level to watch out for, and if it’s broken convincingly, the bullish trend will continue, and ADA prices could reach as high as $1.9 in the coming months. The present support level of $0.89 should be kept an eye on; if the price falls, it may return to this price point.

The most recent Cardano price analysis is bearish with potential gains up to the $2 handle in coming weeks/months; breaking past current resistances around $1.5 would be significant for bulls.

ADA/USD pair price movement in the last 24 hours: ADA in slight recovery state

ADA/USD price chart shows an uptrend reaching the $1.1 handle after consecutive bullish efforts over the past week. The market is still in a recovery trend, with the next fundamental level at $1.99; further support below this price point can be found at around $0.88.

Cardano Price Analysis: ADA/USD charts bearish course under $1.037 1
ADA/USD 1-day price chart. Source: TradingView

The SMA 50 (orange line) is above the SMA 200 (blue line), indicating an uptrend. The RSI indicator value of 60 means that neither bullish nor bearish trends are present in the market, so we can expect a sideways trend to follow after some fluctuations within this price range.

The Relative Strength Index period 14 is level 42 and doesn’t indicate any changes over time.  Confluence Detector shows us possible areas for buy based on Fibonacci retracement levels: Cardano ADA reaches $1.29 and meets resistance coming from previous highs around $1.9. If bulls manage to break past these resistances, they could reach as high as $2.1 before facing another strong support level at $0.89.

ADA/USD 4-hours price chart: Bearish trend persists near $1.038

The Awesome Oscillator tells us about underlying momentum levels where signals are formed by comparing the number of bars on either side divided by the length of an entire bar. Suppose buyers dominate at specific periods, then there will be more green bars overtime followed by red ones – vice versa to indicate selling pressure. Here you can see that there have been mostly red dots appearing after every three or four green ones; however, bulls managed to break above zero line for two consecutive days so far.

Cardano Price Analysis: ADA/USD charts bearish course under $1.037 2
ADA/USD 4-hours price chart. Source: TradingView

The Bollinger bands are wide. The market is currently in a sideways trend, and we might see some more fluctuations before the next big move. MACD lines are crossed below the signal line, indicating that the bearish trend is still present.

The next key level for Cardano (ADA) is at $1.2, which coincides with the SMA 200 on the daily chart as well as Fibonacci retracement levels; should this resistance be broken, then we could see prices reaching highs around $11 in the coming weeks/months according to our current analysis.

Cardano Price Analysis: Conclusion

ADA is still bullish and expected to reach $2 in the coming weeks/months. The key resistance level to watch out for is at $1.9, and if it’s broken convincingly, the bullish trend will continue, and ADA prices could reach as high as $2.5 in the coming months. The present support level of $0.89 should be kept an eye on; if the price falls, it may return to this price point.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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