Cardano price analysis: price shows bullish strength as it ascends above $0.2664

Cardano price analysis

TL;DR Breakdown

  • The price is now touching the $0.2664 mark
  • Cardano price analysis favours bulls
  • Support is evidently strong at $0.2626

Cardano price analysis indicates that the price has taken an upturn in the last 24 hours as more buyers seem to be investing in the cryptocurrency. The buying activity is intensifying as the bulls were successful enough to make a comeback once again. Although the bears brought the price down in the past few days, the bulls managed to find a way to recover. The uptrend has enhanced the coin value up to $0.2664, encouraging news for the buyers.

The digital asset is up by 0.22% in the last 24 hours, indicating that buyers are still very much in control of the market. The 24-hour trading volume stands at $228 billion, which is still a healthy figure, while the market cap for ADA stands at $9.129 billion.

ADA/USD 1-day price chart: Price levels escalate to $0.2664 after a bullish impulse

The one-day Cardano price analysis shows increasing chances of recovery for ADA/USD value as more bullish activity occurs. The green candlestick is marking a bullish price movement as an uprise in price has been detected. The price has heightened up to $0.2664 due to the increasing trend, and further improvement is to follow in the upcoming week. The moving average (MA) value is standing at $0.2937 in the one-day price chart.

image 355
ADA/USD 1-day price chart. Source: TradingView

The volatility is on the decreasing side, which indicates that future trends might be bullish. This is why the upper Bollinger band value is now $0.3422, and the lower Bollinger band value is at $0.2699. The Relative Strength Index (RSI) score has increased up to 38.02 because of the upward trend.

Cardano price analysis: Bullish wave upgrades coin value up to $0.2664 high

The four-hour Cardano price analysis shows signs of a bullish trend as the price has constantly been advancing for the past few hours. The four hours price chart shows an increasing number of green candlesticks as the buying momentum increases with each hour. The value for ADA/USD has reached $0.2664 as a result of the price rise. The moving average value is still lower, i.e., $0.2652, than the current price.

image 354
ADA/USD 4-hour price chart. Source: TradingView

The Bollinger Bands Indicator is showing a shift in its values as well as its average has increased up to $0.2637 in the last four hours. Meanwhile, the upper Bollinger band has reached the $0.3137 position, and the lower Bollinger band has gone $0.2476. The RSI curve has advanced up to 23.70 as well.

Cardano price analysis conclusion

To conclude, the Cardano price analysis supports the bulls today as the green candlestick has returned on the price chart. Although the price went down earlier due to increasing bearish pressure, today’s trend has been relatively encouraging for buyers. The price is now at $0.2664, and further recovery is expected in the upcoming week.

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.
Joel Oluwatobi

Joel Oluwatobi

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

Related News

Hot Stories

Ethereum price analysis: ETH price slumps to $1,630 as market conditions turn bearish
FCA warns U.K. crypto companies to expect new restrictions on financial promotions
How to Use An API Key to Connect to a Crypto Exchange
Weekly crypto price analysis 06th FEB: BTC, ETH, XRP, BNB, ADA, DOGE
Explained: What are Cryptocurrency ETFs?

Follow Us

Industry News

FCA warns U.K. crypto companies to expect new restrictions on financial promotions
Weekly crypto price analysis 06th FEB: BTC, ETH, XRP, BNB, ADA, DOGE
JP Morgan forecasts AI's future role in crypto trading
Is London the next home of crypto?
FTX scrambles to recover controversial political contributions

Add Your Heading Text Here