Logo
Cardano Ecosystem

Elevenews

03/27/2021

·

825 views


Cardano Price Analysis – Will ADA Price Hit $1.5 Again?

On March 26, ADA Price broke-out of the descending triangle. Bulls finally won the battle, breaking the crucial resistance levels and reaching the $1.28 level. While penning this article down, ADA was consolidating and was looking healthy at $1.1969...

Cardano Price Analysis – Will ADA Price Hit $1.5 Again?

On March 26, ADA Price broke-out of the descending triangle. Bulls finally won the battle, breaking the crucial resistance levels and reaching the $1.28 level. While penning this article down, ADA was consolidating and was looking healthy at $1.1969 levels, up 5% from the last trading session.

Cardano (ADA) Price – Technical Analysis

The chart indicates a parallel descending pattern indicating bullish momentum. What is more interesting is that the rise in the prices of ADA is observed at a time when Bitcoin is also raising back over $54,000 after consolidating at $53k.

The volumes of trades of ADA exceeded $5.8 Billion worth of transactions in the last 24 hours.

ada chart

ADA Boasts a market capitalization of $38,289,835,651 and is ranked Fifth by CoinMarketCap among all cryptocurrencies. Fibo Retracement levels show resistance at 0.236 or $1.2012. Bearish sentiment is observed as represented by the MACD indicator.

On a 1 Hour Candle Pattern, RSI(14) levels were at around 53, moderate zone, showing significant room for volume dominated momentum. The moving average(20 & 50) indicates an Intraday perspective short selling. But when looking at daily charts, the indicators show a recovering price rally.

There is a strong possibility that the price will hold above $1.1, forming a consolidation triangle and may blast to $1.5. It can also cross the $1.5 levels and finally hit $1.8 if the trend reversal happens.

On the contrary, if there is an acute reversal and the price breaks down from the supports at $1.18, it could lead the currency to take support at $1.1 and $0.9. The next two trading sessions will decide the direction of the momentum of the ADA prices. But the previous ATH will act as a resistance level. Hence it is an important level to watch.

  • Support Levels: $1.18, $1.1 and $0.9.
  • Resistance Levels: $1.2012, $1.23and $1.45.
  • RSI(14): 53
  • MACD: Bearish

News Source

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


Read Original Article on Elevenews

ORIGINAL SOURCE

https://elevenews.com/2021/03/27/cardano...

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.


More from Elevenews

See more
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS
Elevenews
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS

11/07/2023

·

761 views

Related News

See more
Voting for Us - Catalyst Fund 14

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)