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03/26/2024

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Cardano (ADA) Price Analysis: Fresh Surge Likely If Bulls Clear $0.69 | Live Bitcoin News

ADA price is attempting a fresh increase from the $0.5690 zone against the US Dollar. The price is now trading above $0.620 and the 55 simple moving average (4 hours). There is a connecting bullish trend line...

Cardano (ADA) Price Analysis: Fresh Surge Likely If Bulls Clear $0.69 | Live Bitcoin News
  • ADA price is attempting a fresh increase from the $0.5690 zone against the US Dollar.
  • The price is now trading above $0.620 and the 55 simple moving average (4 hours).
  • There is a connecting bullish trend line forming with support at $0.650 on the 4-hour chart (data feed via Coinbase).
  • The price could gain bullish momentum if it clears the $0.690 and $0.700 levels.

Cardano price is holding the $0.620 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the $0.690 resistance.

This past week, Cardano price started a fresh decline from well above the $0.750 zone against the US Dollar. The ADA/USD pair declined below the $0.720 and $0.700 support levels.

It tested the $0.5690 zone. A low was formed near $0.5690, and the price recently started a fresh increase. There was a move above the $0.600 and $0.615 resistance levels. The price even climbed above the 23.6% Fib retracement level of the downward move from the $0.8102 swing high to the $0.5690 low.

ADA price is now trading above $0.620 and the 55 simple moving average (4 hours). There is also a connecting bullish trend line forming with support at $0.650 on the 4-hour chart.

On the upside, immediate resistance is near the $0.690 zone. It is close to the 50% Fib retracement level of the downward move from the $0.8102 swing high to the $0.5690 low. The next major resistance is near the $0.700 level.

A clear move above the $0.700 resistance might start a steady increase. In the stated case, the price may perhaps rise toward the $0.750 resistance or even $0.7650 in the near term.

On the downside, immediate support is near the $0.650 level and the trend line. The next major support is near the $0.620 level. A clear move below the $0.620 level might send the price toward the $0.600 level. Any more losses might send the price toward the $0.5690 support, below which the bears could aim for a test of $0.550.

Cardano (ADA) Price
Cardano (ADA) Price

The chart indicates that ADA price is now trading above $0.620 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.690 and $0.700 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 – $0.650 and $0.620.

Key Resistance Levels – $0.690 and $0.700.

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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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