Cardano price analysis shows that the ADA/USD pair price has soared above the $0.3878 level, indicating that the coin is currently in a strong bullish trend. But at $0.3946 right now, Cardano‘s price is being rejected. After prices rose above the crucial support level of $0.3788 in the last 24 hours, the ADA market has been in an upward trend. As prices rose from $0.874 to the present level over the last few days, buyers have been in charge of the ADA market. The digital asset has increased by over 0.81 percent in the last 24 hours and is currently trading at $0.3878. The ADA market has a market capitalization of $13.4 billion, and the 24-hour trading volume is $342 million.
Cardano price analysis 1-day chart: Bullish momentum spikes at $0.3878
The 1-day Cardano price analysis shows that the price has been rising for the past two days, indicating an uptrend. Although there have been times when the bears have dominated, overall, the bulls have been in the lead. The price of ADA/USD has likewise increased over the past 24 hours and is currently at $0.3878. As bulls showed strong momentum today, Cardano reported an increase in value of 0.81 percent over the previous 24 hours.
The Relative Strength Index (RSI) for the ADA is currently at 53.54, which is currently above the overbought zone. The RSI indicator is rising, suggesting that the bulls are still in control of the market. The volatility is low, indicating that the market may not experience major price fluctuations. The upper band is at $0.421, representing the strongest resistance, and the lower band is at $0.354, representing the strongest support for the ADA. Moreover, the moving average on a 1-day price chart is currently at $0.398, which is a good support level for the market.
ADA/USD 4-hour price chart: Latest development
Looking at the hourly Cardano price analysis confirms a price increase because the bulls have been in the lead for a while. In the past four hours, the price of ADA/USD has increased and reached a new high of $0.3878. The price is predicted to cross the $0.3946 barrier and reach new heights. The 50 MA is higher than the 100 MA, suggesting that the bulls are in charge of the market. This signals that the bulls are becoming more powerful and that prices will likely increase.
The upper limit of Bollinger’s band is present at $0.411, which serves as a resistance point for ADA. Conversely, the lower limit of Bollinger’s band is currently at $0.377, which serves as another support point for ADA. The relative strength index (RSI) is currently near overbought levels, which indicates that the prices might correct higher in the near term.
Cardano price analysis conclusion
In conclusion, the one-day and four hours Cardano price analysis supports the bulls for the day as the price has successfully joined the $0.3878 level. The market is in a strong uptrend as the bulls have shown their obviation and might take control of the market soon for the long term as the market shows great signs of any change.