ADA/USD pair to break above $1.2 in the course of the weekend

TL;DR Breakdown

• The Cardano price analysis is bearish today.
• Resistance for ADA/USD is present at $1.133.
• Support is present for ADA at $1.063.

The Cardano price analysis shows that the market is in a consolidation phase after the recent price rally. The bulls are trying to push the price above the $1.133 resistance, but they face stiff opposition from the bears. As long as the ADA/USD pair remains below $1.133, it is likely to remain in a downtrend.

However, if the bulls can push the price above the $1.133 resistance, to move to $1.200, the next major hurdle for the bulls will be at $1.233. On the downside, if the bears push the price below $1.063, a further decline to $0.933 is possible.

ADA/USD 1-day price chart: bullish trend helps recover price to $1.092

On the 1-day chart, the ADA/USD pair bounced off the $1.063 support and recovered to $1.092. The bulls are trying to push the price above the $1.133 resistance, but they face stiff opposition from the bears at that level. If they can sustain the price above $1.133, a move to $1.200 is possible.

On the downside, if the bears push the price below $1.063, a further decline to $0.933 is possible. The key support levels to watch on the downside are $1.033 and $0.933.ADA/USD 1-day price chart. Source: TradingView

The ADA/USD pair price has been consolidating around the $1.098 level, with a minor bounce in recent weeks following two sharp losses. The volatility indicator shows convergence, although the volatility is still high. At the $1.293 mark, resistance is provided by the Bollinger bands, while support lies at the $0.933 level.

The Cardano price analysis shows that the market is in a consolidation phase after the recent price rally. The bulls are trying to push the price above the $1.133 resistance, but they are facing stiff opposition from the bears. As long as the ADA/USD pair remains below $1.133, it is likely to remain in a downtrend.

However, if the bulls can push the price above the $1.133 resistance, to move to $1.200. The next major hurdle for the bulls will be at $1.233. On the downside, if the bears push the price below $1.063, a further decline to $0.933 is possible.

The market is currently in a consolidation phase, with the bulls trying to push the price above the $1.133 resistance and the bears attempting to push it below $1.063. A breakout from either of these levels could see ADA/USD move in the opposite direction

Cardano price analysis: Recent developments and further technical indications

The 4-hour price chart for ADA/USD shows that the market has been in a consolidation phase since the beginning of September. The bulls have been trying to push the price above the $1.133 resistance, but they face stiff opposition from the bears.

The price of ADA has been consolidating around the $1.098 level, with a minor bounce in recent weeks following two sharp losses. The volatility indicator is currently showing some signs of convergence, although the volatility is still quite high.

The Cardano price analysis shows that the market is in a consolidation after the recent price rally. The bulls are trying to push the price above the $1.133 resistance, but they face stiff opposition from the bears. As long as the ADA/USD pair remains below $1.133, it is likely to remain in a downtrend.

However, if the bulls can push the price above the $1.133 resistance, to move to $1.200. The next major hurdle for the bulls will be at $1.233. On the downside, if the bears push the price below $1.063, a further decline to $0.933 is possible.

ADA/USD 4-hours price chart. Source: TradingView

The RSI curve has flattened out to be almost horizontal, suggesting that there is little momentum on either side of the market. However, the index level is still quite modest at index 52.

The MACD is currently in bullish territory but is close to crossing over into bearish territory, suggesting that some selling pressure is entering the market in the short-term.

Cardano price analysis conclusion

The Cardano price analysis suggests that the cryptocurrency is still trading on the healthier side, despite the fact that bears have not yet been able to outperform bulls. We expect the ADA to float near its current price in the following hours.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.