Cardano Price Analysis: ADA price forecasts a positive trend

• ADA price surge from $1.21 to $1.42 on Saturday’s trading session
• The 24-hour volume in ADA is at $4,904,343,056 with a 9.60% decrease
• The ADA/BTC pair was trading at 0.00002298 BTC with a loss of 0.31%

The 4-hour technical chart of ADA price forecasts a positive trend. According to pivot points, ADA’s critical support level is placed at $1.30. Whereas if it moves up, the key resistance to watch is $1.55. While diving into the weekly chart of a 4-hour time frame, it completes a bearish pin bar candlestick pattern representing bearish reversal with low reliability.

EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) is trying to sustain above EMA-13,21 (green, yellow), which projects a positive trend. The price is sustaining above 55-EMA (red). Investors may perceive positive crossover in the EMA sooner, or later negative crossover may happen, and the price will also follow the trend according to it.

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RSI indicator (NEUTRAL), with a value of 52, indicates a neutral signal in the coin. Moreover, Investors can see a slight downward slope from 56 to 52 in the index, which may surge in future trading sessions.

The volume of (13.38M) represents a low selling volume below the Volume MA (24.89M) of 20-days. High buying pressure is required in ADA to drive its price to higher levels.

Cardano (ADA) Price Remains Inside Accumulation Zone

ADA Price traded at $1.42 with a gain of 0.90% in the last 24-hour and 15.52% up in the weekly time frame. Furthermore, ADA bounced from the support of $1.30. In contrast, the market capitalization stands at $45 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is sustaining above the 55-EMA. RSI index showcases an upward slope. Moreover, the price movement can be towards the resistance of $1.56 in future trading sessions.

Resistance: $1.56

Support: $1.30