October 5, Cardano remains stuck between the moving average lines. According to Coinidol.com, ADA price is currently at $0.856.
ADA price long-term prediction: bearish
Cardano’s (ADA) price has risen after breaking above the $0.90 barrier and the moving average lines. However, bullish momentum has waned as the price has retraced between the moving average lines. If Cardano resumes its bullish trend and breaks above the moving average lines, a rise to $0.95 is expected. Conversely, if sellers push the price below the moving average lines, Cardano may fall to lows of $0.80 and $0.75, as Coinidol.com reports.
Technical Indicators
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Key Resistance Zones: $1.20, $1.30, and $1.40 -
Key Support Zones: $0.90, $0.80, and $0.70
Analysis of the Cardano price indicator on the 4-hour chart
The moving average lines are sloping horizontally, with the 21-day SMA below the 50-day SMA support. The altcoin’s bullish advance has stalled as the price is caught between the moving average lines. On the 4-hour chart, the moving average lines are sloping upwards, and the price bars are above them, signalling a positive rise in the cryptocurrency.
Prediction of the next move for Cardano price
Cardano’s price has broken above the moving average lines, reaching a high of $0.892. The ADA price fell as buyers failed to sustain bullish momentum above the $0.88 high. The 4-hour chart shows Cardano retracing above the 21-day SMA support. The price is trading above the 21-day SMA support but below the $0.88 high. The ADA price will trend once the current levels are breached.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.