Cardano Price About to Break the Upper Barriers, What May Be the Smashing Levels?
The post Cardano Price About to Break the Upper Barriers, What May Be the Smashing Levels? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Despite the freefall of the majority of crypto assets, Cardano price...
Despite the freefall of the majority of crypto assets, Cardano price remained balanced without shedding much of the profits after hitting $1 for the first time since 2018. As Coinpedia reported earlier that, a big breakout is expected for the ADA price, the price appears to have headed accordingly.
The ADA price is trending within the first resistance levels between $1.01 to $1.06 and may break the levels very soon. However, a strong consolidation above $1 for a couple of days is required to keep the steak intact.
The continue ADA price rally may lead the price back to $1.15 to $1.2 with a massive price breakout which is imminent. Currently, ADA price is in a reversal mode and may rise by about 20% as per an analyst Top AIM Stocks.
#Cardano #ADA in a reversal mode as an accurate technical indicator flashes “#buy” $ADA
Cardano price sell-off reverses as Tom DeMark Sequential indicator flashed a buy signal.
A six-hour candlestick above the supply barrier at $1 could see ADA rise 20%. pic.twitter.com/MStcUnvRbI
Yet according to another analyst, Rekt Capital, Cardano is following a similar pattern as Ethereum. As per the analysts, ADA is in the process of turning its previous full-candle All-Time high into support levels. Hence forming new high levels very soon.
ADA Price Analysis
The ADA price began trading the previous working day with a surge yet again above $1 after a plunge to levels close to $0.8. Yet a major drain out was awaiting shedding the profits by dragging the price again to the levels around $0.8. As it formed a double-dip pattern, a massive breakout was imminent.
And hence, the price again spiked above $1 to attain the current levels at $1.04 with a big jump of 9.13% in the last 24 hours. As mentioned before, the ADA price is trending within the first resistance levels and hence a significant breakout to the levels close to $1.2 may be incoming.
The RSI levels are also trending in a decent range, neither overbought nor oversold, yet attempting to surge with the price. The MACD indicator, however, pointed out towards the buy signal earlier and currently leaping high.
Technical Indicators
- The resistance levels are formed at $1.15
- The support levels are formed at $0.9670
- The indicators for Cardano price points at a ‘buy’ signal
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