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06/27/2023

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Cardano (ADA) Price Analysis: Bulls Face Key Hurdle Near $0.305 | Live Bitcoin News

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up ADA price is struggling to climb above the $0.300 zone against the US Dollar. The price is now trading near...

Cardano (ADA) Price Analysis: Bulls Face Key Hurdle Near $0.305 | Live Bitcoin News

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  • ADA price is struggling to climb above the $0.300 zone against the US Dollar.
  • The price is now trading near $0.282 and the 55 simple moving average (4 hours).
  • There is a connecting bullish trend line forming with support near $0.270 on the 4-hour chart (data feed via Coinbase).
  • The price could gain bullish momentum if it clears the $0.295 and $0.305 levels.

Cardano price is holding the $0.265 support against the US Dollar, similar to Bitcoin. ADA price could gain bullish momentum if it clears the $0.305 resistance.

Cardano Price Analysis

This past week, Cardano price saw a decent upward move from the $0.240 support against the US Dollar. The ADA/USD pair was able to climb above the $0.265 and $0.280 resistance levels.

However, the bears were active near the $0.300 zone. A high is formed near $0.305 and the price is now correcting gains. There was a move below the $0.288 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.2300 swing low to the $0.3050 high.

ADA is now trading near $0.282 and the 55 simple moving average (4 hours). There is also a connecting bullish trend line forming with support near $0.270 on the 4-hour chart.

On the upside, immediate resistance is near the $0.295 zone. The next major resistance is near the $0.305 level. A clear move above the $0.305 resistance might start a steady increase. In the stated case, the price may perhaps rise toward the $0.325 resistance or even $0.345.

On the downside, immediate support is near the $0.272 level. The next major support is near the $0.265 level. A clear move below the $0.265 level might send the price toward the $0.248 level or the 76.4% Fib retracement level of the upward move from the $0.2300 swing low to the $0.3050 high. Any more losses might send the price toward the $0.240 support, below which the bears could aim for a test of $0.230.

Cardano (ADA) Price

Cardano (ADA) Price

The chart indicates that ADA price is now trading near $0.282 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.295 and $0.305 levels.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is now losing pace in the bullish zone.

4 hours RSI – The RSI for ADA/USD is now below the 50 level.

Key Support Levels – $0.272 and $0.265.

Key Resistance Levels – $0.295 and $0.305.

Tags: ADA, Cardano

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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