Logo
Cardano Ecosystem

BitcoinEthereumNews

10/25/2022

·

475 views


Cardano (ADA) Price Analysis: Fresh Rally If It Clears $0.38

The post Cardano (ADA) Price Analysis: Fresh Rally If It Clears $0.38 appeared on BitcoinEthereumNews.com. ADA price seems to be forming a support base above the $0.34 level against the US Dollar. The price is now trading above $0.35...

Cardano (ADA) Price Analysis: Fresh Rally If It Clears $0.38
  • ADA price seems to be forming a support base above the $0.34 level against the US Dollar.
  • The price is now trading above $0.35 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.375 on the 4-hours chart (data feed via Bitfinex).
  • The price could gain bullish momentum if it clears the $0.380 and $0.400 levels.

Cardano price is showing positive signs above $0.350 against the US Dollar, similar to bitcoin. ADA price could gain bullish momentum if it clears the $0.380 resistance.

Cardano Price Analysis

Earlier this month, cardano price saw a minor bearish reaction below the $0.40 level against the US Dollar. The ADA/USD pair declined below the $0.350 level, but the bulls were active near the $0.320 support zone.

The price traded as low as $0.3301 and is currently correcting losses. There was a minor increase above the $0.350 resistance level. The bulls pushed the price just above the 50% Fib retracement level of the downward move from the $0.3889 swing high to $0.3301 low.

It is now trading above $0.35 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $0.380 zone. It is near the 76.4% Fib retracement level of the downward move from the $0.3889 swing high to $0.3301 low.

There is also a key bearish trend line forming with resistance near $0.375 on the 4-hours chart. A clear move above the $0.380 resistance might start a strong increase. The next major resistance is near the $0.400 level. A clear upside break above the $0.400 level might send the price towards the $0.450 resistance or even $0.480.

On the downside, an immediate support is near the $0.350 level. The next major support is near the $0.330 level. A clear move below the $0.330 level might send the price towards the $0.305 level. Any more losses might send the price towards the $0.288 support.

Cardano (ADA) Price

The chart indicates that ADA price is now trading above $0.350 and the 55 simple moving average (4-hours). Overall, the price could gain bullish momentum if it clears the $0.380 and $0.400 levels.

Technical Indicators

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

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

Key Support Levels – $0.350 and $0.330.

Key Resistance Levels – $0.380 and $0.400.

Tags: ADA, Cardano

Source: https://www.livebitcoinnews.com/cardano-ada-price-analysis-fresh-rally-if-it-clears-0-38/

Post navigation

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on BitcoinEthereumNews

ORIGINAL SOURCE

https://bitcoinethereumnews.com/technolo...

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.


More from BitcoinEthereumNews

See more
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com
BitcoinEthereumNews
Cardano (ADA), Solana (SOL), and TMS Network (TMSN) Offer Exciting Opportunities for Crypto Investors in Q3 2023 – Cryptopolitan - BitcoinEthereumNews.com

03/15/2023

·

1.7K views

Related News

See more
Voting for Us - Catalyst Fund 14

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)