Logo
Cardano Ecosystem

BitcoinEthereumNews

04/04/2022

·

537 views


Cardano Attempts to Break Above $1.2, How High Can It Go?

The post Cardano Attempts to Break Above $1.2, How High Can It Go? appeared on BitcoinEthereumNews.com. Key Support levels: $1, $0.78  Key Resistance levels: $1.2, $1.6 ADA’s bullish momentum continues with the price challenging the $1.2 resistance. The following...

Cardano Attempts to Break Above $1.2, How High Can It Go?

Key Support levels: $1, $0.78 

Key Resistance levels: $1.2, $1.6

ADA’s bullish momentum continues with the price challenging the $1.2 resistance. The following major resistance after that would be at $1.6. The support at $1 seems less likely to be retested as $1.2 will turn into support if this price action is maintained.

ADAUSDT_2022-04-04_17-19-44Chart by TradingView

Technical Indicators

Trading Volume: The volume is not great. Therefore, the strength of this push may come into question if it doesn’t pick up.

RSI: The daily RSI is quickly moving into the overbought area (>70 points). The RSI has to make a higher high to signal confidence in the current run.

MACD: The daily MACD is bullish and is curving back up again. This is good news, but the bulls have to maintain the buying pressure.

ADAUSDT_2022-04-04_17-20-03Chart by TradingView

Bias

The bias for ADA is bullish.

Short-Term Prediction for ADA Price

After a short pullback, ADA seems keen to move higher again. If the price manages to turn $1.2 into support, then Cardano will have a clearer path to a higher valuation. The indicators support a bullish bias, but more volume would be welcomed to increase the confidence in this move.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Source: https://cryptopotato.com/ada-price-analysis-cardano-attempts-to-break-above-1-2-how-high-can-it-go/

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)