Cardano price analysis shows bullish trends in both short-term and long-term timeframes. Cardano bulls have controlled the market for the past few days. The ADA/USD pair has found strong support at $0.400 and is currently trading at $0.426. The next resistance levels to watch out for are $0.525 and $0.545. On the downside, support levels are at $0.400 and $0.380.Cardano’s price is currently trading in a bullish trend above the $0.400 support level. The price will likely continue higher towards the $0.525 and $0.545 resistance levels in the near term.
On the downside, the $0.400 support level will likely provide strong support for the bulls. It could test the $0.380 support level if the price breaks below this level. Cardano’s price is currently trading in a bullish trend above the $0.400 support level. The price will likely continue higher towards the $0.525 and $0.545 resistance levels in the near term.
ADA/USD 4-hour price analysis: Recent price developments
Cardano price analysis for a 4-hour timeframe shows that the market is in a consolidation phase. The market has been consolidating between the $0.400 and $0.545 levels for the past few days. The ADA/USD pair will likely break out either above the $0.545 level or below the $0.400 support level in the near term. If the price breaks out above the $0.545 resistance level, it could test the $0.600 resistance level. On the other hand, if the price breaks below the $0.400 support level, it could fall towards the $0.380 support level in the short term.
The RSI indicator is currently close to the 50 level, which indicates that the market is in a consolidation phase. The MACD indicator is also close to the zero line, which suggests that there is no clear trend in the market. Cardano price analysis for a 1-hour timeframe shows that the market has formed a bullish ascending triangle pattern on the chart. The ADA/USD pair is likely to make a breakout above the $0.545 resistance level in the near term.
Cardano price movement for the last 24 hours: Bulls dominate the market
In the previous few days, the Cardano price has fluctuated significantly. However, with volatility on the rise. Furthermore, as volatility rises, the value of cryptocurrency becomes more volatile to change. As a result, the upper limit of the Bollinger band rests at $0.502, serving as ADA’s major resistance barrier. On the other hand, the lower limit of the Bollinger band is set at $0.431, which acts as another ADA resistance barrier.
The ADA/USD price appears to be crossing under the Moving Average curve, which suggests that the market is experiencing a bearish trend. The MACD indicator is also under the zero line, affirming that the market trend is bearish. However, as the market nears oversold territory, a price reversal might occur soon. Cardano’s price is currently trading at $0.426, and it looks like the bulls are getting ready to push the price above the $0.445 level. If they are successful, ADA could target the $0.475 and $0.500 levels in the short term.
Cardano Price Analysis Conclusion
Cardano price analysis conclusion shows that the market is in a bullish trend in both short-term and long-term timeframes. The ADA/USD pair has found strong support at $0.400 and is currently trading at $0.426. The next resistance levels to watch out for are $0.525 and $0.545.
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.
Source: https://www.cryptopolitan.com/cardano-price-analysis-2022-07-13/