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Cardano price analysis: ADA prices spike to $0.9032, bulls are still winning

Cardano price analysis

TL;DR Breakdown

  • Cardano price analysis shows a bullish trend
  • ADA prices have sought support at $0.8605
  • Cardano prices have seen resistance at $0.946
Cardano price analysis: ADA prices spike to $0.9032, bulls are still winning 1
Cryptocurrencies prices heatmap, source: Coin360

Today’s Cardano price analysis shows that ADA prices have seen a 3.86% increase in price over the past 24 hours, with a current trading price of $0.9046. Over the past 7 days, ADA prices have seen an 11.47% increase in price. Cardano prices have established firm support at $0.8605, and bulls are still in control of the market. Cardano prices have been trading at a range of $0.8605 to $0.9146 over the last 24 hours with a trading volume of $1,151,148,827.21 which has also increased by 29.58 percent.

ADA prices have spiked to $0.9038, with bulls continuing to dominate the market. Cardano bulls will need to continue pushing prices higher in order to break past the $0.889 resistance level. If successful, ADA prices could potentially reach new all-time highs. Overall, the current trend is bullish and investors should consider holding ADA tokens for the long term. Cardano bulls are targeting the $1 resistance level, while bears are eyeing the $0.8605 support level.

Cardano price analysis on a 1-day price chart: ADA prices escalate past the $0.90 resistance

Cardano prices on the 1-day price chart show a continued bullish trend, with prices spiking to $0.9038, before retracing slightly. The overall market trend is still bullish and investors should consider holding ADA tokens for the long term. Cardano bulls are expected to put more pressure to attain a new all-time high price.

Cardano price analysis: ADA prices spike to $0.9032, bulls are still winning 2
ADA/USD 1-day price chart, source: TradingView

Looking at the technical indicators, it is evident that the bullish trend adopted over the last few days would see ADA prices breaking the $0.9146 resistance level and heading towards testing $1.The RSI is resting on the overbought zone and shows that buyers are in control of the market. The MACD line is above the signal line and points to an impending buy signal. The EMAs on the 1-day price chart is showing the bullish trend in motion and could see ADA prices reach new all-time highs. The moving averages are indicating a buy signal and the Bollinger Bands are

Cardano price analysis on the 4-hour chart: Recent developments and further technical indications

The 4-hour price chart for Cardano shows a bullish trend, with prices spiking to $0.8869 before retracing slightly. The overall market trend is still bullish and investors should consider holding ADA tokens for the long term. Cardano bulls are expected to put more pressure on the market in order to attain new all-time highs.

Cardano price analysis: ADA prices spike to $0.9032, bulls are still winning 3
ADA/USD 4-hour price chart, source: TradingView

The RSI is in the overbought zone and shows that buyers are in control of the market. The MACD line is above the signal line and points to an impending buy signal. The market volatility is beginning to increase, as shown by the widening of the Bollinger Bands. This could see ADA prices break out to new all-time highs in the near future. The moving averages are indicating a buy signal and the Bollinger Bands are suggesting increased market volatility. The upper band of the Bollinger bands is lying at the $0.9146 resistance level and the lower band is resting at the $0.8605 support level.

Cardano price analysis conclusion

Cardano price analysis shows a firm bullish trend over the last 24 hours as the bulls target new all-time highs. ADA prices have found support at $0.8605, and a break past the $0.9146 resistance level could see prices reaching new highs. The technical indicators are in favor of the bulls and suggest that a breakout could be imminent.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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