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Cardano price analysis: Price upgrades to $1.034 after bullish turnover

Cardano price analysis Price upgrades to after bullish turnover

TL;DR Breakdown

  • Price has recovered up to $1.034.
  • Cardano price analysis shows uptrend.
  • Support is still strong at $0.832.

The Cardano price analysis predicts an increasing trend for cryptocurrency today. Although the price was facing bearish resistance earlier, the bulls have managed to bring price above $1.034 in the last 24-hours. Green candlestick indicates that the coin value has been rescued once again as the buying momentum intensifies. The hourly price prediction confirms similar market trends for ADA/USD, as the price covered upward movement in the past four hours.

ADA/USD 1-day price chart: Price levels rejoin $1.034 high as bullish trend resumes

The one-day Cardano price analysis is encouraging news for the cryptocurrency buyers, as the price underwent recovery during the day. The coin value is currently settling at $1.034 position, and chances of further profit seem near. The price trends have been undergoing constant variation for the past week, and today the odds were in favor of the bulls. As displayed in the one-day price chart, the moving average (MA) value is found standing at $1.052 position.

Cardano price analysis: Price upgrades to $1.034 after bullish turnover 1
ADA/USD 1-day price chart. Source: TradingView

The volatility is relatively on the increasing side, which means that the bears will be in the leading position in the upcoming week. If we talk about the upper and lower Bollinger bands Indicator’s values, the upper extreme is present at $1.494, whereas the lower extreme is found to be resting at $0.832. The Relative Strength Index (RSI) graph shows an upward curve as the score has enhanced up to 40.74.

Cardano price analysis: Coin value bounces back to $1.035 after sudden recovery

The hourly price prediction for ADA/USD supports the buyers today as the price has been rescued from the bearish shadow. Green candlestick is marking a rise in price over the past four hours. Although the bears were dominating earlier, the buyers currently control the market trends. Right now, the cryptocurrency value is found standing at $1.035. The moving average value in the four-hour price chart is standing at $1.044 points.

Cardano price analysis: Price upgrades to $1.034 after bullish turnover 2
ADA/USD 4-hour price chart. Source: TradingView

A crossover between the SMA 50 and the SMA 20 curves were recorded in the previous hours, but now the bulls are trying to recover their balance. The upper band of the Bollinger bands indicator shows $1.09 of value, whereas the lower band displays $1.013 of value. The RSI graph shows a bullish curve as the upward trend has upgraded the score to 45.08.

Cardano price analysis: Price upgrades to $1.034 after bullish turnover 3
ADA/USD technical indicators chart. Source: TradingView

The technical indicators chart for ADA/USD is giving a bearish indication as the past few weeks proved crucial for cryptocurrency’s overall progression. The selling trend is still dominating as there are 15 indicators on the selling point, ten indicators are on the neutral, whereas only one indicator is on the buying point.

The moving averages indicator shows a strong downward trend for the cryptocurrency because of the previous downfall in price. We can see that 14 indicators are on the selling side; one indicator is on the neutral, whereas zero indicators are on the buying side. There is a neutral price trend indicated by the Oscillators for the day, as nine oscillators are in a neutral position. In contrast, one oscillator each sits on the selling and buying levels.

Cardano price analysis conclusion

The daily and hourly Cardano price analysis shows support for the buyers, as a considerable amount of recovery in ADA/USD market value was observed today. The green candlestick marks an upgrade in the coin value throughout the past 24-hour. The buyers’ chances are increasing as the coin value is now settling at $10.34 high.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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