logo

Cardano price analysis: ADA moves towards positive dynamics at $0.4105

Cardano price analysis

TL;DR Breakdown

  • Cardano price analysis shows an uptrend
  • Resistance for ADA is present at $0.4152
  • Support is still strong at $0.3987

Cardano price analysis for today shows an uptrend as ADA moves towards positive dynamics at $0.4105. Resistance for ADA is present at $0.4152, and a break above this level could see the coin move toward $0.42 and potentially higher. However, support is still strong at $0.3987, indicating that any dips in price should not go below this level. Yesterday’s bulls were able to push the price up from $0.40 to $0.41, and it appears that this momentum may continue in the near term.

image 2
Source: Coin 360

Cardano 1-day price chart: Price levels inflate to $0.4105 as bulls gain 3.04 percent

The one-day Cardano price analysis gives encouraging news for cryptocurrency buyers, as the price has increased significantly during the day. The coin is currently trading at $0.4105 at the time of writing, and chances are there for further increases in price levels. The coin has already gained 3.04 percent overnight, which is a big achievement for the bulls, The market cap for Cardano stands at $14,174,428,080, and the 24-hour volume is reported to be $561,544,332.

image 1
Source: TradingView

The moving average (MA) value is found standing at the $0.400 position. However, the exponential moving average (EMA) value is at $0.407, which indicates the current market trend. The Relative Strength Index (RSI) graph shows an upward curve as the buying activity intensified in the market, and the RSI level reached the index value of 43.49 at the time of writing.

ADA/USD 4-hour price analysis: Price levels inflate to $0.4105 as bulls gain control

The 4-hour price chart for Cardano price analysis is also in support of the buyers today as the price has shooted high. The long green candlestick is marking a flashing rise in price over the past four hours. The price has gone above the upper limit of the volatility indicator as the buyers currently control the market trends. Right now, the cryptocurrency value is found trading at $0.4105. The moving average value in the four-hour price chart is standing at the $0.407 level.

image
Source: Trading View

The EMA value is at $0.402, indicating that the bulls have taken control of the market trend. The Relative Strength Index (RSI) on the 4-hour chart is currently at a value of 54.85, showing an intensified buying activity in the market. The bullish momentum may continue for some time as the technical indicators support it. However, a potential dip cannot be ruled out completely.

Cardano price analysis conclusion

Careful observations from the Cardano price analysis can deduce that the price level has obtained bullish dominance. Still, a reverse trend is highly likely as the bulls have recovered some of the losses in the past few days. Although the price remains in bullish dominion, there is hope that ADA will preserve its value as the bulls get ready to counter the bears to reclaim the market.

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.
Ann Mugoiri

Ann Mugoiri

Ann likes to write about crypto and blockchain technology. She has been following the development of these technologies for a few years and believes that they have the potential to disrupt many industries.She has specialized in technical analysis to help cryptocurrency traders make more informed decisions.

Related News

Hot Stories

Court documents reveal extensive creditor list of FTX, and why are we surprised?
Aave community votes for the deployment of V3 on Ethereum
Mango Labs goes after Avraham Eisenberg for $47M
Uniswap price analysis: UNI value upgrades to $6.56 as bulls take control
Just in: Dutch central bank slaps Coinbase with €3.3m fine

Follow Us

Industry News

Court documents reveal extensive creditor list of FTX, and why are we surprised?
Mango Labs goes after Avraham Eisenberg for $47M
Just in: Dutch central bank slaps Coinbase with €3.3m fine
'Bitcoin Jesus' refuses to pay the $12m he owes Genesis
Is Malawi gaining from Bitcoin mining?

Add Your Heading Text Here