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Cardano price analysis: ADA gains positive momentum at $0.46

Cardano price analysis: ADA gains positive momentum at $0.46
TL;DR Breakdown
  • Cardano price analysis is bearish today.
  • The strongest support is present at $0.43
  • The strongest resistance is present at $0.61.

The Cardano price analysis shows rising signs as the market shows upside potential. The bulls have somewhat regained their control of the Cardano market, which will change the course of the market for the better, and ADA now expects a complete bullish period to take over in the next few days. However, the bears will do everything in their power to regain their control. The ADA price has experienced fluctuating dynamics in the last few hours, but ADA will get through it soon.

The market shows the price of Cardano crashed yesterday to the $0.44 mark but spiked soon after to $0.46. Cardano continues a slight positive movement. However, Cardano prices increased the next day again and reached $0.46. ADA currently trades at $0.4; ADA has been down 2.31% in the last 24 hours with a trading volume of $642,192,501 and a live market cap of $15,541,941,814. ADA currently ranks at #8 in the cryptocurrency rankings.

ADA/USD 4-hour price analysis

The Cardano price analysis for 4-hours illustrates that the present condition of the market demonstrates bullish potential as the price moves upwards. Moreover, the market’s volatility follows a closing movement, resulting in the cryptocurrency being less prone to volatile change on either extreme. As a result, the upper limit of the Bollinger’s band rests at $0.5, serving as the strongest resistance for ADA. Conversely, the lower limit of the Bollinger’s band is present at $0.43, serving as a support point for ADA.

The ADA/USD price travels over the Moving Average curve, indicating the market is following a bullish movement. However, as the market experiences relative volatility today, the Cardano price has less room to move towards either extreme. In addition, the ADA/USD price seems to move upward, signifying an increasing market with further increasing dynamics.

image 538
ADA/USD 4-hour price chart source: TradingView

The Cardano price analysis reveals that the Relative Strength Index (RSI) score is 32 making the cryptocurrency enter the undervalued region. Furthermore, the RSI score moves upwards, indicating the buying activity dominates the selling activity while moving towards increasing dynamics.

Cardano price analysis for 1-day

The Cardano price analysis for 1-day has experienced a fluctuating movement in the last few days. However, with the volatility decreasing. Moreover, as the volatility closes, it makes the value of the cryptocurrency less volatile to change. As a result, the upper limit of the Bollinger’s band rests at $0.6, serving as the most substantial resistance for ADA. Contrariwise, the lower limit of the Bollinger’s band rests at $0.4, serving as the strongest support for ADA.

The ADA/USD price appears to be crossing under the Moving Average curve, displaying bearish momentum. However, the support and resistance are closing in, indicating decreasing volatility with massive chances of shifting towards a positive trend. Hence, the price moves downwards towards decreasing characteristics. Moreover, as the support retraces itself and moves towards resistance, the cost and support might soon meet and cause a market breakout.

image 539
ADA/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) score appears to be 33, showing the cryptocurrency’s low value. It falls in the undervalued region. However, the RSI score follows a slight increasing movement signifying an expanding market and gestures toward stable dynamics. The rising RSI score indicates selling activity inferior to buying activity.

Cardano Price Analysis Conclusion

Cardano price analysis conclusion reveals the cryptocurrency’s value to be increasing. The ADA/USD might soon enter a downright bullish dominion, increasing the price of Cardano as they go. The bulls are expected to make a move soon; if the support breaks, it will be considered a blessing in favor of the bulls.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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