ADA/USD to break above the $1.195 resistance

TL;DR Breakdown

• The Cardano price analysis is bullish.
• Resistance for ADA/USD is present at $1.195.
• Support is present for ADA at $1.153.

The Cardano price analysis is bullish as it indicates a rise in value today, after retracing yesterday’s drop. The price ranges have risen to meet the $1.168 level, which is a very good sign for the coin’s price mechanism. Furthermore, today’s trend has been bullish; nevertheless, over the previous week, there were numerous instances of lower lows and higher highs, which usually signals a stronger bullish trend.

The ADA/USD resistance is currently at the $1.190 level, and given that the bulls are pushing upwards, it could be broken in the near future. The support line is at $1.153, but it’s likely that this too will be breached as the market continues to grow.

ADA/USD 1-day price chart: bullish trend helps recover price to $1.168

The market has been bullish over the past few hours, as can be seen from the rising price trend (black line). The resistance level for this bullish trend is at $1.190, as can be seen from the market’s interaction with this line. The support level is at $1.153, as shown by the downward trend of the blue line.

ADA/USD 1-day price chart. Source: TradingView

The ADA/USD price is currently at $1.168, and it is likely that it will rise further in the coming hours. The next resistance point is $1.190, and the next support point is $1.153. The market is currently bullish, and it is likely that this will continue in the near future.

ADA/USD 4-hours price chart: bullish trend helps recover price to $1.168

The 4-hours Cardano price chart for ADA/USD is shown below. The green and blue lines represent the buy and sell points, respectively. The black line is the moving average.

The ADA/USD price is currently at $1.168, and it is likely that it will rise further in the coming hours. The next resistance point is $1.190, and the next support point is $1.153. The market is currently bullish, and it is likely that this will continue in the near future.

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

The 4-hours Cardano price analysis indicates that the market is currently bullish. The ADA/USD price has been rising since it hit the $1.153 support level and is now retesting the $1.168 resistance level.

If the ADA/USD price breaks above the $1.168 resistance level, it is likely that it will continue rising to the $1.190 resistance level. If it fails to break above this level, it is likely that it will fall back to the $1.153 support level.

The support level for ADA is currently at $1.153, and the resistance level is at $1.190. The market is currently bullish and is likely to continue rising in the coming hours. The RSI is currently at 57, which indicates that the market is neither overbought nor oversold.

Cardano price analysis: Conclusion

The current Cardano price evaluation is bullish and there are good indications that the value will continue to rise in the short-term. The resistance and support levels provide a good idea of where traders should place their buy and sell orders.

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.