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Cardano Price Analysis: Bullish Strength as Price Surges by over 3%

Cardano

TL;DR Breakdown

  • Cardano price analysis is bullish today
  • ADA/USD support is seen at $0.2657
  • Cardano’s price is facing resistance at $0.2756

Cardano price analysis reveals that cryptocurrency has been on an upward trend since the beginning of today. The price of Cardano has increased from $0.27 to $0.274. ADA/USD is currently trading over the $0.27 mark after rising more than 3% the previous day. The bulls may attempt to raise the price above the $0.274 barrier mark. The ADA/USD pair might fall to retest the $0.2657 support level, though, if the bears get control of the market. The 24-hour trading volume is now at $294,796,009,while the market capitalization is currently at $9,464,643,343

Cardano price analysis 1-day chart

The one-day Cardano price analysis shows that the price is up 3% in 24 hours, and it is currently trading at $0.274. Cardano price analysis shows that the value has been following an ascending channel for the last 24 hours. The ADA/USD pair entered a bullish zone and currently trades around $0.274.The bulls will be looking to take advantage of any weakness in the market and push the price up to $0.2756 resistance level.

image 106
ADA/USD 1-day price chart, Source: TradingView

The relative strength index (RSI)  of Cardano is currently sitting at 36.08, indicating that the market may be overbought in the near term. The moving average convergence and divergence (MACD) line is above the signal line and the histogram is in the positive zone, which indicates that the trend is bullish. The 20 EMA is currently at $0.2740, is trending higher, and is above the 50 EMA, which is currently at $0.2614, indicating that the bulls are in control of the market.

ADA/USD on 4-hour price chart: Recent updates

The four-hour Cardano price analysis indicates that the market is on a strong bullish run. The chart shows that cryptocurrency has been on an uptrend for the last few hours. The market has been trading at $0.274 for the last 4 hours, and it is expected to continue to move higher as the bulls remain in control with a resistance present at $0.2756 and support at $0.2657.

image 107
ADA/USD 4-hour price chart, Source: TradingView

The 4-hour relative strength index (RSI) is currently sitting at 68.80 and is moving into overbought territory, which indicates that the coin is currently in bullish momentum. The moving average convergence and divergence (MACD) line is above the signal line, which indicates that the trend is bullish. The 20 EMA is currently at $0.2738 and is trending higher and is above the 50 EMA, currently at $0.2706, indicating an uptrend.

Cardano price conclusion

Cardano Price Analysis reveals that the market is in a strong uptrend since the bulls have demonstrated their dominance and may soon seize long-term control of the market because of the market’s strong indications of any change. Indicators on the hourly and daily charts both indicate a positive trend, which might cause prices to rebound to $0.274 level

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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