Cardano Price Needs to Burst Through the $1.2 Wall, Else Tumble Down Heavily Below $1!
The post Cardano Price Needs to Burst Through the $1.2 Wall, Else Tumble Down Heavily Below $1! appeared on BitcoinEthereumNews.com. Cardano price after huge strife has regained the levels above $1 and also has surpassed $1.2 levels. However, the...
Cardano price after huge strife has regained the levels above $1 and also has surpassed $1.2 levels. However, the recent slash has dragged the price from $1.22 levels to $1.15 and continued until it smashed $1.11 levels. Further, the price flipped a little and reached $1.14 levels at the moment. Despite the interim bullish momentum, the asset is hovering within the bearish clouds and may pull a massive leg down to retest the buy zone around $0.97.
Cardano (ADA) Price Analysis
- The ADA price underwent a parabolic recovery slicing through the important resistance levels which are currently acting as a strong support
- With the recent plunge, the ADA price broke down below the uptrend line and visited the first support at $1.11, but ignited a solid flip at these levels
- However, the bears still appear pretty active and probably drag the price towards the second support very close to $1 at $1.03. If failed to hold here, then plunging below $1 to hit the strong support around $0.97 is imminent
- Conversely, the possibility of the asset rebounding strongly emerges as the asset may have completed the extreme bullish pattern of ‘Cup n Handle; and is on the verge to explode.
Cardano (ADA) Technical Analysis(Short-Term)
| Indicators | Value | Action |
| Relative Strength Index(RSI) | 46.6 | Neutral |
| MACD | -0.011 | Sell |
| Average Directional Index(ADX) | 37.80 | Buy |
| Average True Range(ATR) | 0.014 | Less Volatile |
Pivotal Levels
Moving Average (MA)-50:- $1.17
Moving Average (MA)-200:- $1.16
Resistance :- $1.162
Support:- $1.105
Source: https://coinpedia.org/price-analysis/cardano-needs-to-burst-through-the-1-2-wall-else-tumble-down-heavily-below-1/
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