Cardano Price Analysis: ADA/USD Approaches $1.54 as the Price Touches the Daily High

ADA Price Analysis – February 27

According to the daily chart, the Cardano price may continue to rise as the coin breaks above the channel.

ADA/USD Market

Key Levels:

Resistance levels: $1.8, $1.9, $2.0

Support levels: $1.0, $0.9, $0.8

ADAUSD – Daily Chart

ADA/USD is currently trading at $1.38 after confirming a daily uptrend and climbing above the ascending channel. In case the buyers were able to push the price above the resistance level of $1.5 and the daily candlestick close above this level, then, the price may rally towards the previous high, resistance level of $1.54.

What to Expect from Cardano

However, the 9-day MA is confidently trading above the 21-day MA and the coin is likewise trading above the upper boundary of the channel which connotes that the buyers are gaining upper hand in the market. The technical indicator is currently at the overbought zone above the 80-level with the signal line pointing up to indicate more buy signals.

More so, in case the buyers were able to push the price above the resistance level of $1.6 and the daily candlestick close above this level, then, the price may rally towards the previous high at $1.8, $1.9, and $2.0 resistance levels while the supports are located at $1.0, $0.9, and $0.8.

ADA/BTC Market: Bulls are Flexing their Muscles

When compares with Bitcoin, as the market follows a bullish surge, BNB may swing high to the resistance levels of 3400 SAT and above. Crossing below the 9-day and 21-day moving averages lie the support levels at 2200 SAT and below.

ADABTC – Daily Chart

On the other hand, the technical indicator RSI (14) is currently moving within the overbought region, a sign of more bullish movements.