Logo
Cardano Ecosystem

Cryptopolitan

11/20/2021

·

666 views


Cardano Price Analysis: ADA sets lower high at $1.89

TL;DR Breakdown Cardano price analysis is bullish today. ADA/USD set another higher low above $2 yesterday. Bullish momentum is slowly picking up momentum this morning. ADA is currently in a bearish trend, but the price analysis of Cardano indicates...

Cardano Price Analysis: ADA sets lower high at $1.89

TL;DR Breakdown

  • Cardano price analysis is bullish today.
  • ADA/USD set another higher low above $2 yesterday.
  • Bullish momentum is slowly picking up momentum this morning.

ADA is currently in a bearish trend, but the price analysis of Cardano indicates that it’s time to be bullish. After a higher low was established yesterday, we expect the $2.10 resistance to be broken next. As a result, ADA/USD will most likely break out of its current consolidation. ADA sets lower high at $1.89 1Cryptocurrency heat map. Source: Coin360

The overall market saw some bullish momentum return over the last 24 hours. The market leaders, Bitcoin and Ethereum, are up by 4.38% and 5.35%, respectively. Meanwhile, Hex (HEX) is still the top performer, with a gain of over 12 per cent.

Cardano price movement in the last 24 hours: Cardano moves higher after retesting the $1.8 support

The price of ADA/USD was in a range of $1.86 to $1.89over the past 24 hours, showing moderate volatility. Trading volumes have decreased by 20.9 percent and stand at $1.5 billion, while the market capitalization is around $68 billion, placing it in sixth spot worldwide.

ADA/USD 4-hour chart: ADA looks to break $2.10 next? 

On the 4-hour chart, we can see bullish momentum returning this morning, likely leading to a break higher today.

 ADA sets lower high at $1.89 2ADA/USD 4-hour chart. Source: TradingView

The Cardano price has been seeing bearish momentum return in recent days. On the 9th of November, after a consolidation around the $2 mark at the start of November, a solid spike upward sent prices to $2.375, establishing a significant high.

The price of Cardano was hit by a strong retracement, which resulted in most of the gain being momentarily erased on November 10th. Cardano has established both lower highs and higher lows since then, suggesting consolidation in an ever tighter range.

After another failed attempt to break down below $0.0080 yesterday, bullish momentum has resumed today. We may see Cardano price test the $2.10 resistance, which has served as a barrier for bulls to advance, once again.

Cardano Price Analysis: Conclusion 

The Cardano price is currently recovering, with another higher low established after consolidation over the weekend. As a result, ADA/USD has laid the groundwork for future gains later today.

While waiting for Cardano to move further, read our guides on NFT tokens, Gemini Exchange Review, and Sunacrip.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

AD

World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!

Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!


Read Original Article on Cryptopolitan

ORIGINAL SOURCE

https://www.cryptopolitan.com/cardano-pr...

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.


NotifyLog - One stop tool for events tracking and analytics

More from Cryptopolitan

See more
Cardano price analysis: ADA gains value at $0.3806 after a green candlestick formation – Cryptopolitan
Cryptopolitan
Cardano price analysis: ADA gains value at $0.3806 after a green candlestick formation – Cryptopolitan

last Thursday at 5:39 PM

·

4 views

Related News

See more
WingRiders Governance Token

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)
NotifyLog - One stop tool for events tracking and analyticsWorld’s First Multi-Token ISPO — By Genius X