ADA Price Analysis: Is Cardano Coin Bull Run Will Be Sustainable?
Cardano coin over the monthly chart is trading on a bullish note, whereas the token is trading near major psychological levels if $2.00 The crypto asset over the chart is trading above the all vital moving averages of 20,...
- Cardano coin over the monthly chart is trading on a bullish note, whereas the token is trading near major psychological levels if $2.00
- The crypto asset over the chart is trading above the all vital moving averages of 20, 50, 100 and 200-day lines, but the volume is slightly lower.
- The pair of ADA/BTC is trading at 0.00004301 BTC with a substantial intraday increment of +9.34%, and the ratio of ADA/ETH is CMP at 0.0006183 ETH with an intraday gain of +9.17%.
tradingviewCardano coin at the monthly chart is trading on a highly bullish note but struggling near its major level of $2.00. The volume over the chart is lower as compared to the price action, which needs to improve.
ADA token is trading near $2.00 with a solid bullish engulfing candle creating a positive trend. However, the coin is now trading under the overbought zone, suggesting caution at the higher side. Currently, the coin is comfortably trading above the all vital moving averages of 20, 50, 100 and 200-Day lines. Support on the lower side is $1.48 and $1.21, whereas resistance on the higher side is $2.00 and $2.18.
Cardano coins are trading under solid bullish momentum
tradingviewIn the weekly chart, Cardano coins are trading under solid bullish momentum. Whereas the coin trading higher at the 4-hour time frame with witnessing a solid increment in volume. Volume at the weekly chart jumps above the average volume line and supports the bullish or positive momentum. The technical parameters are under the overbought zone and indicate caution at higher levels. Presently, the Cardano coin is trading at $1.96 with a 24-hour gain of +8.49%, and the volume to market cap ratio is 0.09557.
Relative Strength Index (CAUTION): Cardano coin RSI presently indicates a caution trend over the weekly chart. In contrast, the RSI is trading under the overbought zone, and we can soon see a retracement now CMP at 73. Moving Average Convergence Divergence (CAUTION): This currently indicates a bullish with caution on the daily chart. The buyer’s signal line (blue) overlaps the seller’s line (orange) with no sign of weakness.
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