Cardano price analysis: ADA recovers up to $0.3098 as bulls steer safely

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TL;DR Breakdown

  • Cardano price analysis shows a bullish trend
  • Resistance for ADA is present at $0.318
  • Support for ADA/USD is present at $0.3012

Cardano price analysis reveals a relative uptrend approach today as the price has gained value to  $0.3098 as the bulls have maintained their strength. The entire coin value has benefited since the finest recovery opportunities have been made available. In the hours to come, it’s anticipated that the price will rise much more. The price of Cardano has remained negative over the past few days, today, the price crashed and has increased by 2.37%. The resistance for the ADA/USD pair is currently at $0.318, and the support is at $0.3012. The 24-hour trading volume is currently at $314,996,101, and Cardano now ranks at #9 with a market capitalization of $10,694,403,457.

Cardano price analysis on 1-day chart

The 1-day Cardano price confirms an uptrend price movement for today, as the price has increased to $0.3098. The bulls have brought the price above the $ 0.3 level in the last 24 hours after gaining an advantage of the situation. The market’s volatility follows a decreasing movement, which means that the price of Cardano is becoming less prone to experience variable change on either extreme. The Bollinger’s band’s upper limit is $0.3230, serving as the ADA’s strongest resistance. Conversely, the lower limit of Bollinger’s band is $0.3045, which is the strongest support point for ADA.

image 281
ADA/USD 1-day price chart, Source: TradingView

The Relative Strength Index (RSI) is trading at 42.36, signifying a stable cryptocurrency. As a result, the coin is considered to be in the lower neutral range. Additionally, it appears that the RSI course has changed to a linear movement. Equal selling and buying actions are also indicated by the steady RSI score. The MACD line (blue) is above the signal line (red), signifying that the bullish are in control of the market.

ADA/USD 4-hour price chart: Uptrend causes price rise upto $0.3098

The four-hour Cardano price analysis is declaring a bullish lead as the price has improved consistently. Since the past few hours, an upward trend has been observed as the price has moved up to the $0.3098 level. The price has grown dramatically as the bullish trend has been stronger. The ADA is encountering resistance at a level of $0.318; it is anticipated that a subsequent push-up will occur in the ensuing few hours.

image 282
ADA/USD 4-hour price chart, Source: TradingView

The MACD indicator indicates that the Cardano price is gaining momentum as the fast-moving line crosses above the signal line. The Bollinger’s band’s upper limit is $0.3162 and acts as the strongest resistance point for ADA. The lower limit of Bollinger’s band, on the other hand, is at $0.3009, representing the strongest ADA support. The Relative Strength Index (RSI) is also in the bullish zone, indicating that the price will most likely move up in the coming hours.

Cardano price analysis conclusion

The one-day and four-hour Cardano price analyses both show that the price moved upward today. The trend continued strong throughout the day, which allowed the bulls to raise the price to $0.3098 in the past 24 hours, putting them back on course. In the ensuing hours, it is anticipated that cryptocurrencies will keep rising steadily.

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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