Cardano price analysis: ADA rebounds to $0.324 after bullish behavior

Cardano price analysis is bullish today as it is indicating an improvement in price as the bulls are continuing ruling the market for ADA despite the broader crypto market remaining bearish. The past week proved extremely profitable for the coin as the price recovered significantly from the $0.30 range to the $0.32 range.

For today the trend is also in favor of buyers as the cryptocurrency price is now touching $0.324 after the recent bullish activity. Previously the trend was downwards, and the crypto pair was on the downslide coming towards the support level of $0.3171. But it seems that the bears have taken a break from dragging the price down, and this has resulted in an increase in the price by more than 1.91% to current levels.

ADA/USD 24-hour chart: Cardano price retraces back above $0.324

The one-day Cardano price analysis is going in the bullish direction again after a successive uptrend. The price has increased up to $0.324 today, which can count as a huge accomplishment for the cryptocurrency as it has gained significantly from its previous low of $0.30.

Further advancement is to be expected as the bullish momentum is strengthening with each passing day. The moving average (MA) indicator is also moving upwards, which is a positive sign, and is settled at the $0.3146 position for the day.

ADA/USD 1-day price chart. Source: TradingView

The MACD indicator shows that the ADA price is also heading in a positive direction and is increasing in value. The RSI indicator also indicates that the price is bullish, and currently shows a score of 39.21.

Cardano price analysis: Recent developments and further technical indications

The 4-hour Cardano price analysis is following the bullish trend as the price has increased again during the last four hours. The price levels are going up after dodging past a bearish feat that took place in the past few hours.

ADA/USD 4-hour price chart. Source: TradingView

The MACD line has crossed over the signal line and is moving upwards, indicating an improvement in the price movement. The RSI indicator shows that the ADA coin is strongly bullish at this point and is currently above 60. The moving average indicator also shows a positive trend for Cardano, as it is currently below the $0.324 position.

Cardano price analysis conclusion

Cardano price analysis suggests the price is going high today as it has been able to reach the $0.324 level during the last 4 hours. The price has improved significantly if we compare it with the last week’s statistics. There are further chances of recovery for the bulls as the support is quite strong, and traders can expect ADA/USD to continue upside down for the next 24 hours.