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Cardano price analysis: ADA gains bullish momentum at $0.2603

Cardano price analysis: ADA gains bullish momentum at $0.2603

TL;DR Breakdown

  • Cardano price analysis is bearish today.
  • The strongest support is present at $0.2548.
  • The strongest resistance is present at $0.5578.

Cardano price analysis shows rising signs as the market shows bullish dynamics. The bulls have fully 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. Furthermore, the bulls will do everything in their power to maintain their control.

The market shows the price of Cardano crashed yesterday to the $ 0.2511 mark but spiked soon after to $0.2591. Cardano continues a massive positive movement. Furthermore, Cardano prices increased today, on December 20, 2022, again, and reached $0.2603. Cardano price today is $ 0.260731 with a 24-hour trading volume of $ 584.49M market cap of $ 8.82B and a market dominance of 1.06%. The ADA price decreased by 1.34% in the last 24 hours.

ADA/USD 1-day price analysis

Cardano price analysis illustrates that the present condition of the market demonstrates positive potential as the price moves upwards. Moreover, the market’s volatility follows an increasing movement, resulting in the cryptocurrency being more prone to volatile change on either extreme. As a result, the upper limit of Bollinger’s band rests at $0.3462, serving as the strongest resistance for ADA. Conversely, the lower limit of Bollinger’s band is present at $0.2548, serving as a support point for ADA.

The ADA/USD price travels under the Moving Average curve, indicating the market is following a bearish movement. However, as the market experiences increasing volatility today, the Cardano price has significantly more room to apply volatile tactics. In addition, the ADA/USD price seems to move linearly, signifying a stable market with further dormant dynamics.

image 403
ADA/USD 1-day price chart Source: CoinCodex

Cardano price analysis reveals that the Relative Strength Index (RSI) score is 29 making the cryptocurrency enter the devalued region. Furthermore, the RSI score moves upwards, indicating that buying activity is dominating to the selling activity while moving toward further positive dynamics.

Cardano price analysis for 3-day

Cardano price analysis has experienced an increasing 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 Bollinger’s band rests at $0.2284, serving as the strongest resistance point for ADA. Contrariwise, the lower limit of Bollinger’s band rests at $0.5578, serving as the strongest support point for ADA.

The ADA/USD price appears to be crossing under the Moving Average curve, displaying bullish momentum. However, the support and resistance are opening up, indicating increasing volatility with more room for further activity on either extreme. However, the price moves upwards towards further increasing characteristics.

image 402
ADA/USD 3-day price chart Source: CoinCodex

The Relative Strength Index (RSI) score appears to be 29, showing the cryptocurrency’s stable value. It falls in the undervalued region. However, the RSI score follows an increasing movement signifying an increasing market and gestures toward increasing dynamics. In addition, the increasing RSI score indicates that the buying activity is dominant.

Cardano Price Analysis Conclusion

Cardano’s price analysis conclusion reveals the cryptocurrency’s value to be positive. The ADA/USD might soon enter a downright bullish dominion, increasing the price of Cardano as they go. The bulls are expected to maintain their control; as the market moves towards stability, the bulls gain a substantial chance to maintain the market and further increase the value of Cardano.

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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