Logo
Cardano Ecosystem

Live BTC News

10/17/2023

·

99 views


Cardano (ADA) Price Analysis: This Support Might Trigger Bullish Wave | Live Bitcoin News

ADA price is attempting a fresh increase above the $0.250 zone against the US Dollar. The price is now trading above $0.250 and the 55 simple moving average (4 hours). There is a key rising channel forming...

Cardano (ADA) Price Analysis: This Support Might Trigger Bullish Wave | Live Bitcoin News
  • ADA price is attempting a fresh increase above the $0.250 zone against the US Dollar.
  • The price is now trading above $0.250 and the 55 simple moving average (4 hours).
  • There is a key rising channel forming with support near $0.2485 on the 4-hour chart (data feed via Coinbase).
  • The price could gain bullish momentum if it clears the $0.2550 and $0.2580 levels.

Cardano price is holding the $0.250 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the $0.258 resistance.

This past week, Cardano price started a fresh decline from well above the $0.2600 zone against the US Dollar. The ADA/USD pair declined below the $0.2580 and $0.2550 support levels.

It tested the $0.2425 zone. A low was formed near $0.2424 and the price recently started a fresh increase. There was a move above the $0.248 and $0.250 resistance levels. The price even spiked above the 50% Fib retracement level of the downward move from the $0.2672 swing high to the $0.2424 low.

ADA price is now trading above $0.250 and the 55 simple moving average (4 hours). There is also a key rising channel forming with support near $0.2485 on the 4-hour chart.

On the upside, immediate resistance is near the $0.2550 zone. The next major resistance is near the $0.258 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.2672 swing high to the $0.2424 low.

A clear move above the $0.258 resistance might start a steady increase. In the stated case, the price may perhaps rise toward the $0.265 resistance or even $0.272 in the near term.

On the downside, immediate support is near the $0.250 level. The next major support is near the $0.248 level or the 55 simple moving average (4 hours).

A clear move below the $0.248 level might send the price toward the $0.2420 level. Any more losses might send the price toward the $0.225 support, below which the bears could aim for a test of $0.212.

Cardano (ADA) Price
Cardano (ADA) Price

The chart indicates that ADA price is now trading above $0.250 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.2550 and $0.2580 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 – $0.250 and $0.248.

Key Resistance Levels – $0.2550 and $0.2580.

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on Live BTC News

ORIGINAL SOURCE

https://www.livebitcoinnews.com/cardano-...

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.


Genius Yields DEX Launched!

More from Live BTC News

See more
Cardano (ADA) Price Analysis: Bulls Lose Control Below $0.50 | Live Bitcoin News
Live BTC News
Cardano (ADA) Price Analysis: Bulls Lose Control Below $0.50 | Live Bitcoin News

04/30/2024

·

22 views

Related News

See more
Genius Yields DEX Launched!

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)