Logo
Cardano Ecosystem

BitcoinEthereumNews

01/04/2023

·

528 views


Cardano Continues Its Uptrend And Challenges Resistance At $0.27 - BitcoinEthereumNews.com

Jan 04, 2023 at 11:23 // Price Cardano (ADA) price has regained upward momentum after rising above $0.24 support.Cardano price long-term forecasts: bearish Buyers have protected existing support at...

Cardano Continues Its Uptrend And Challenges Resistance At $0.27 - BitcoinEthereumNews.com

Jan 04, 2023 at 11:23 // Price

Cardano is trading in the bullish trend zone

Cardano (ADA) price has regained upward momentum after rising above $0.24 support.

Cardano price long-term forecasts: bearish


Buyers have protected existing support at $0.24 since the price dipped on December 19. Today’s price rally broke through the 21-day line SMA, before moving towards the 50-day line SMA. If the price rises above the 50-day line SMA, Cardano will reach a high of $0.40. However, the initial resistance level at $0.27 has proven to be a barrier to previous positive momentum. If the upside is hindered, the cryptocurrency will be forced to move in a range between the moving average lines. The altcoin is currently struggling to overcome the resistance at $0.26.

Cardano indicator analysis


The Relative Strength Index for the period 14 shows Cardano at the level 48. The price of ADA is approaching the positive trend zone while it is recovering. The price of the cryptocurrency is between the moving average lines, which indicates a potential movement within the range. The daily stochastic for the altcoin is above the level of 80. The cryptocurrency’s range is now overbought.


ADAUSD(Daily Chart) - December 4.23.jpg


Technical indicators 


Key resistance zones: $1.00, $1.20, $1.40



Key support zones: $0.60, $0.40, $0.20


What is the next move for Cardano?


Cardano is trading in the bullish trend zone on the 4-hour chart. The $0.27 resistance zone is the point where the uptrend is rejected. If the cryptocurrency fails to break the recent high, it will fall and find support above $0.25.


ADAUSD( 4 Hour Chart) - Decemer 4.23.jpg


Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing in funds.

Source: https://coinidol.com/cardano-resistance-0-27/

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)