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Cardano price analysis: ADA price heads up to $0.971 as bullish trend leads the market

Cardano price analysis ADA price heads up to as bullish trend leads the market

TL;DR Breakdown

  • The Cardano price analysis is bullish.
  • Resistance for ADA/USD is present at $0.995.
  • Support for ADA is present at $0.894.

The latest Cardano price analysis shows the price is covering range upwards once again as the bulls continue to mark their presence on the price charts. The price has increased up to the $0.971 level during the last 24-hours, and it is expected that it will go through further improvement. There have been constant ups and downs in the price movements in the past week, but from the last two days, bulls have dominated the market, and today, the bulls are again maintaining the lead. The improvement seen during the last three days has been of huge importance as such recovery has been observed after a long time.

ADA/USD 1-day price chart: Further increment in price recorded as bulls attempt for the lead

The bulls are striving to make a lasting impact and have brought up the price level to the $0.971 level today, according to the 1-day Cardano price analysis. The upward trend is being constantly strengthening, and today the price has gone up once again. A further escalation in price oscillation can be expected in the upcoming week as the volatility has been high. The moving average indicator (MA) in the one-day price chart shows its value at $0.905 below the price level.

Cardano price analysis: ADA price heads up to $0.971 as bullish trend leads the market 1
ADA/USD 1-day price chart. Source: TradingView

The volatility has been high during the last 24-hours, which means that the bullish streak can be expected to continue for the coming days. Other important indicators include the Bollinger bands indicator, whose upper value is settled at $1.134, representing the resistance for ADA, and the lower value at $0.802, representing the support for ADA/USD. The Relative Strength Index (RSI) score shows a neutral reading at index 47.

Cardano price analysis: Recent developments and further technical indications

The 4-hour price chart for Cardano price analysis shows the price is constantly going up once again after the bulls managed to secure grounds on the Candlestick chart. The short-term trending line in the four hours price chart is also going upwards, indicating that an uptrend has been following. Further increase in the upcoming hours is to be expected as the price may go higher than its current level, i.e., $0.972. The moving average is at a relatively lower position as it is standing at $0.965.

Cardano price analysis: ADA price heads up to $0.971 as bullish trend leads the market 2
ADA/USD 4-hour price chart. Source: TradingView

The SMA 20 curve is trading above the SMA 50, confirming the bullish swing. The volatility has increased significantly, and now the upper Bollinger band value is at $1.010 while the lower one is at $0.834. The RSI is hovering at index 62 in the upper half of the neutral zone as well.

Cardano price analysis conclusion

The price has undergone further improvement in the last 24-hours as it has been confirmed from the 1-day and 4-hours Cardano price analysis. The bulls are struggling to maintain their upper position on the price charts and have taken the price up to the $0.971 level. Further increase in the coin value is highly possible in the coming hours, as the hourly prediction is favoring the bullish side as well.

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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