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Cardano price analysis: ADA recovers to $0.834 to leave bearish momentum behind

Cardano price analysis ADA recovers to to leave bearish momentum behind

TL;DR Breakdown

  • The Cardano price analysis is bullish.
  • Resistance for ADA/USD is present at $0.900.
  • Support for ADA is present at $0.807.

The Cardano price analysis shows an improvement in the coin value. The price levels have overcome the exceeding bearish momentum and have recovered up to the value of $0.834. The bulls have been able to lead again after the bears crashed the market unexpectedly yesterday. The bullish momentum has been slow but may gain strength in the coming hours.

ADA/USD 1-day price chart: sluggish advancement detected from the bullish side

In the 1-day candlestick chart, for Cardano price analysis, a slight recovery in price levels has been noticed, as the bulls are constantly trying to win back their position. Green candlestick has appeared on the chart, with the price increasing to $o.834. This is an encouraging notion for the buyers, as the price levels have increased after a strong correction. However, the coin is still at a loss of 6.44 percent for the last 24 hours due to the unexpected crash.

Cardano price analysis: ADA recovers to $0.834 to leave bearish momentum behind 1
ADA/USD 1-day price chart. Source: TradingView

The moving average (MA), however, is still above the current price level at $0.892. The volatility is decreasing as the Bollinger bands are converging. The Bollinger bands are at an average of $0.933, the upper band is at the $1.044 representing the strongest resistance, and the lower band is present at the $0.822 level representing the support for the coin.

The Relative Strength Index (RSI) shows a low number and is currently at an index of 34. The curve of the indicator is upwards, hinting at the buying activity in the market.

Cardano price analysis: Recent developments and further technical indications

The 4-hours price chart for Cardano price analysis shows a gradual rise in the price after the bulls took control of the situation in the past hours. The momentum has not been strong, but it has taken the price to $0.834. The last trading session has seen a shocking drop in the coin’s price levels, after which bulls have carried out a competition. The moving average (MA) is present at $0.858, above the current price value.

Cardano price analysis: ADA recovers to $0.834 to leave bearish momentum behind 2
ADA/USD 4-hour price chart. Source: TradingView

The volatility is increasing for the bulls, and buyers are inclined to purchase more coin assets in the future. As the volatility is increasing, the Bollinger bands, after expanding, have been showing the exact values; the upper band has gone up to $0.921, whereas the lower band has diverted down to a $0.816 value. The RSI score is 35 at present, which is in the lower half of the neutral zone, but the curve of the indicator is upwards.

Cardano price analysis conclusion

The Cardano price analysis is showing positive news for the buyers. The bulls seem to be regaining their strength as they have successfully climbed up to $0.834. The market is supposed to exhibit identical results in the future if the bullish momentum gains strength. The resistance level found at $0.900 is still hard to overcome in the current trading session.

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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