ADA Price Analysis: Cardano Coin Bulls Pushing Its Price Above All DMA’s
Cardano coin jumps above its all vital moving averages after a long period, but the volume on the other side is lower. The crypto asset finds a strong support zone of 200-DMA lines; recent buying interest pushes the coin...
- Cardano coin jumps above its all vital moving averages after a long period, but the volume on the other side is lower.
- The crypto asset finds a strong support zone of 200-DMA lines; recent buying interest pushes the coin above the major moving average of 20, 50 and 100-DMA lines.
- The pair of ADA/BTC is trading at 0.00003506 BTC with a slight intraday increment of +0.54%, and the ratio of ADA/ETH is CMP at 0.000511 ETH with an intraday loss of +4.97%
tradingviewOver the monthly chart, the Cardano coin is trading on a bullish note, and the volume over the chart is slightly lower. The coin was trading on a bearish note, but the recent buying interest pushes the coin above the critical moving averages of 50 & 100-DMA lines.
The crypto asset found good support of the 200-DMA line, and the minor support is acting by the 50 and 100-DMA lines. Volume over the chart is lower and recorded near the average line, which needs to improve in the upcoming trading sessions. Support on the lower side is $1.18 and $1.02, whereas resistance on the higher side is $1.49 and $1.64.
Cardano coin is projecting bullish momentum with average volume action
tradingviewThe weekly chart of the Cardano coin is projecting bullish momentum with average volume action. The crypto asset is trading on a bullish note over the 4-hour time frame, and the volume action is also slightly increased. The technical parameters are projecting mixed trends over the chart with no sign of clear momentum. Presently, the Cardano coin is trading at $1.36 with an intraday gain of +2.49%, and the volume to market cap ratio is at 0.04169.
Relative Strength Index (CAUTION): Cardano coin RSI presently indicates a slight bearish or negative trend over the weekly chart. In contrast, the RSI is heading lower after testing the overbought zone and now CMP 56.
Moving Average Convergence Divergence (CAUTION): This currently indicates a neutral or cautious trend on the daily chart. The buyer’s signal line (orange) overlaps the seller’s line (blue) with no sign of clear momentum.
Support levels: $1.18 and $1.02
Resistance levels: $1.49 and $1.64.
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