- Cardano price prediction moves to $0.199.
- ADA price loses $0.1085 support.
- Strong resistance found at $0.109.
The Cardano price prediction by the Trading View analyst Ashainp suggests that the price will soon break above an ascending triangle and rise towards the $0.199 mark. The cryptocurrency rose past the $0.1095 level on the 24th of October.
1-Day Cardano price analysis
The cryptocurrency traded at $0.108 US Dollars at the time of writing on Bitfinex. The highest trading value for the 24-hour trade was marked at $0.109.
What’s next for the ADA price?
Looking at Vince Prince’s chart, which can see that the price dropped into an ascending channel-like pattern when the cryptocurrency market fell during September. The price then broke out of the triangle pattern that it was trade inside of, and rose towards an ascending triangle pattern.
The smaller ascending triangle rests above the ascending trendline (black), and the price has tested the upper resistance of the triangle several times now. The cryptocurrency is supported by the 100-Day Exponential Moving Average (100-EMA), and it is expected to break above this triangle and observe a pullback towards the broken trendline before it rises upwards.
Eventually, the price should rise towards a horizontal resistance marked at the $0.151 level. This region is a resistance cluster, where multiple resistances lie. Cardano is expected to pull back from this resistance cluster and fall below the black ascending trend line and move towards the 200-Day Exponential Moving Average (200-EMA) to find support there.
What to expect from Cardano?
On the weekly timeframe for Cardano, the Trading View analyst Harison Hbn drew a trade, and they expect the price to rise towards the $0.71 mark in the long-term trade.
The price is strongly supported at the bottom near $0.02. This chart refers to Cardano’s journey after it rose to its all-time high in December 2017. The price is supported by multiple Moving Averages, and it is expected to gradually rise towards $0.71, and then to $0.93.
Cardano price prediction: Rise to $0.199 ahead?
The cryptocurrency appears to be supported by an ascending trendline (green) on the chart below. The Trading View analyst Ashainp expects the price to rise towards the $0.116 mark next.
The cryptocurrency is currently ascending in a triangle pattern, and the upper resistance lies at $0.116. The cryptocurrency has crossed above the 50-Day Moving Average (50-MA). The take profit for this trade lies at the $0.199 level. The price is expected to break upwards from the ascending triangle, before it can reached the top of this trade.
Cardano technical indicators
The Relative Strength Index (RSI) lies at 56.17, which is the neutral zone. the price is neither overbought nor oversold. The Bollinger Bands observed an increased expansion on the smaller time frames for the day. The price is currently supported by the midline, while it tests the upper Bollinger Band. Near 09:10 GMT, the RSI fell to a low of 22. This means that cryptocurrency was oversold at the time.
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.
