Cardano price analysis indicates that the price has taken an upturn in the last 24 hours as more buyers seem to be investing in the cryptocurrency. The buying activity is intensifying as the bulls were successful enough to make a comeback once again. Although the bears brought the price down in the past few days, the bulls managed to find a way to recover. The uptrend has enhanced the coin value up to $0.2664, encouraging news for the buyers.
The digital asset is up by 0.22% in the last 24 hours, indicating that buyers are still very much in control of the market. The 24-hour trading volume stands at $228 billion, which is still a healthy figure, while the market cap for ADA stands at $9.129 billion.
ADA/USD 1-day price chart: Price levels escalate to $0.2664 after a bullish impulse
The one-day Cardano price analysis shows increasing chances of recovery for ADA/USD value as more bullish activity occurs. The green candlestick is marking a bullish price movement as an uprise in price has been detected. The price has heightened up to $0.2664 due to the increasing trend, and further improvement is to follow in the upcoming week. The moving average (MA) value is standing at $0.2937 in the one-day price chart.
The volatility is on the decreasing side, which indicates that future trends might be bullish. This is why the upper Bollinger band value is now $0.3422, and the lower Bollinger band value is at $0.2699. The Relative Strength Index (RSI) score has increased up to 38.02 because of the upward trend.
Cardano price analysis: Bullish wave upgrades coin value up to $0.2664 high
The four-hour Cardano price analysis shows signs of a bullish trend as the price has constantly been advancing for the past few hours. The four hours price chart shows an increasing number of green candlesticks as the buying momentum increases with each hour. The value for ADA/USD has reached $0.2664 as a result of the price rise. The moving average value is still lower, i.e., $0.2652, than the current price.
The Bollinger Bands Indicator is showing a shift in its values as well as its average has increased up to $0.2637 in the last four hours. Meanwhile, the upper Bollinger band has reached the $0.3137 position, and the lower Bollinger band has gone $0.2476. The RSI curve has advanced up to 23.70 as well.
Cardano price analysis conclusion
To conclude, the Cardano price analysis supports the bulls today as the green candlestick has returned on the price chart. Although the price went down earlier due to increasing bearish pressure, today’s trend has been relatively encouraging for buyers. The price is now at $0.2664, and further recovery is expected in the upcoming week.
Source: https://www.cryptopolitan.com/cardano-price-analysis-2022-12-18/