Cardano Price Analysis: ADA/USD Goes Up as Price Touches $1.44 Resistance
ADA Price Analysis – April 30 The Cardano bulls are taking charge of the market as the coin trades at the $1.34 resistance level. ADA/USD Market Key Levels: Resistance levels: $1.52, $1.62, $1.72 Support levels: $1.10, $1.00, $0.90 Cardano...
ADA Price Analysis – April 30
The Cardano bulls are taking charge of the market as the coin trades at the $1.34 resistance level.
ADA/USD Market
Key Levels:
Resistance levels: $1.52, $1.62, $1.72
Support levels: $1.10, $1.00, $0.90
ADAUSD – Daily ChartCardano could reach the $1.50 level in the coming week, according to current speculations. The difficult phase seems to be over for this crypto, as it is making an attempt to create a new trend. However, at the time of writing, ADA price is currently trading at $1.34, although the coin touched $1.44 when the market opens early today but may likely retest the $1.30 before moving upward again.
What Could Be the Next Direction for Cardano (ADA)?
It is apparent that a break above $1.50 could encourage more buyers to increase their entries, eventually pushing the price above $1.52, $1.62, and $1.72 resistance levels. On the downside, once the price breaks below the 9-day and 21-day moving averages, the sell-off is likely to gain traction with the next focus towards the lower boundary of the channel.
Moreover, if the above mentioned-barrier is broken, the downside pressure may increase while the next support may be created by $1.10, $1.00, and $0.90. The technical indicator RSI (14) moves above 55-level, suggesting additional bullish signals.
ADA/BTC Market: Price Remains Above the Moving Averages
Against BTC, the Cardano price is making an attempt to cross above the upper boundary of the channel. Meanwhile, a daily close above the resistance level of 2500 SAT could encourage the bulls to extend the rally towards 2800 SAT and $3000 SAT.
ADABTC – Daily ChartOn the other hand, a close below the 9-day and 21-day moving averages could reverse the price direction towards the daily support at 2200 SAT, further bearish movement could take the coin to the support of 2100 SAT and below. There is a possibility that the price may continue falling down as the technical indicator RSI (14) is seen moving below the 60-level with the signal line pointing to the south.
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