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Cardano price analysis: ADA starts to gain value at $0.4012

Cardano price analysis
image 377
Cryptocurrencies price heatmap, Source: Tradingview

Cardano price analysis confirms the recent progression in price, as the bullish momentum is helping to increase the price once again, and the price heightened up to the $0.4012 level today. Resistance for ADA is present at $0.4142, and a break above this level may lead to further gains in price. On the other hand, support for ADA/USD is present at $0.3629, and a break below this level may cause a dip in price.

Cardano price analysis on a 24-hour price chart: Bullish trend line

The 1-day price chart for Cardano price analysis shows the bulls have been controlling the market mostly for today but the past week overall proved detrimental as the price trend line is steeply downwards. However, bulls have been maintaining the price levels for the last two days. The ADA is currently trading at $0.4012 after recovering.

image 375
ADA/USD 1-day price chart. Source: TradingView

The moving average indicator in the one-day price chart is trading at the $0.3637 position. The volatility is low, indicating that the market may not experience major price fluctuations. The upper band is at $0.4142, representing the strongest resistance, and the lower band is at $0.3629, representing the strongest support for the ADA. The Relative Strength Index (RSI) index has been on the improving side today as the indicator has recovered up to index 47 in the lower half of the neutral zone.

Cardano price analysis 4-hour price chart: Firm bullish sentiment forms

The four hours Cardano price analysis is also in support of the bulls as the price breakout was upwards, and bulls showed good strength to maintain the levels above the $0.40 mark. The ADA is currently trading at $0.4012, and the trend line for Cardano price analysis on this chart also shows a bullish sentiment forming. The Moving average, on an hourly basis, is at $0.3906, which is just above the current price.

image 376
ADA/USD 4-hour price chart. Source: TradingView

The volatility is on the lower side on the 4-hour price chart as its upper value is present at the $0.4146 limit and its lower value is at the $0.3600 position. The Bollinger bands maintain the average value at $0.4017. The RSI index is slightly increasing again as the price is going upwards, and it is currently at index 63.32 in the lower half of the neutral zone.

Cardano price analysis conclusion

To conclude, Cardano price analysis indicates the crypto pair is in recovery today. The ADA/USD pair is continuing to recover today, and the coin has gained value to an extent, currently trading at $0.4012, with the bulls controlling the market sentiment on all time frames.

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.
Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

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