In the past few days, Cardano (ADA) has been in the spotlight as it has been looking to overcome a series of hurdles, including a rise in volatility, the coming change in voting system, and the upcoming Mainnet launch. As the cryptomarket continues to grow rapidly, the question that arises is whether this new coin will be able to keep up with the challenges it faces.
Cardano’s price has been on a crash course this month, as the price fell from its all-time high of $1.49 on January 10th. Cardano’s price rose from $0.68 to $1.49 between December 2017 and January 2018, before falling to $0.87 on February 27th. ADA’s price fell from $0.92 to $0.58 between December 2017 and January 2018, then fell to $0.53 on February 27th.
- The $1.378 level of resistance is seen on the Cardano price graph.
- As the graphic shows, there was a price increase today.
- At the 1.138 level, there is a lot of buyer support.
The newest Cardano price analysis charts indicate a positive trend attempting to break over the $1.37 barrier level. The bears attempted to take control of the market in the last few hours, but they were unsuccessful, as the most recent chart is in favor of Cardano.
According to current Cardano price research, there is a green candlestick visible in the most recent chart, and the ADA/USD price is moving towards the positive side. The bulls are trying to achieve a new level of resistance, even above the $1.26 level, as can be seen.
Buyers arrive to drive volumes higher on the 4-hour chart of the ADA/USD.
The most recent Cardano price chart shows that the market is now in a bullish uptrend. Meanwhile, if we look at the 4-hour chart in Cardano price analysis, the Bollinger band is in the average position and resistance level of $1.36.
If we look at the Cardano price in more detail, we can see that the moving average suggests a particular resistance level of $1.37. The Bollinger bands’ opposing margins are at the following values, as seen below. At the time of writing, the top margin was set at $1.40, while the bottom margin was set at $1.32.
4-hour chart of the ADA/USD exchange rate. Trading perspective is the source.
The Relative Strength Index (RSI) is important since it alerts us to impending trends. In the 4-hour Cardano price analysis price chart, the RSI number is 59.52, which is near to the overbought score. There is a chance that the Cardano price may surpass 70 and achieve a high victory in the future.
The 1-day chart of the Cardano price indicates a positive indication.
Cardano’s price candlestick chart has been exhibiting bullish strength for the last three days, indicating that the cryptocurrency is gaining traction. The resistance represented by Bollinger’s band is located around $1.39 if we examine carefully. The Bollinger bands’ upper limit is set at $1.44, while the lower limit is set at $1.08. Volatility is rising on the candlestick chart right now, which may be beneficial to bulls in the future.
One-day price chart for the ADA/USD currency pair. Trading Point of View
The RSI points are 63.64, which is very promising for the ADA/USD price, based on the one-day price chart. We may expect a sharp increase in the price and an increase in the RSI score to above 70. In addition, the moving average points are $1.34, indicating a high level of resistance.
Technical indicators chart for the ADA/USD currency pair. Trading Point of View
From the total of 26 technical indicators, 13 are in the buying position, six are in the selling position, and seven are in the neutral position. This indicates that buyers are approaching the market, which is a positive indication for the ADA/USD price.
Two moving average indicators are in the sale position, 12 are in the buy position, and one is in the neutral position. Moving on, four oscillators are in the selling position, six are in the neutral position, and one is in the purchasing position.
Overall, the score favors purchasers, indicating that a positive upswing is likely. There are more buyers than vendors, and the numbers are quickly increasing. This may be the reason for the high RSI score, as more positive tendencies are hitting the market, causing the Cardano market value to rise.
Will ADA break beyond $1.50? Cardano price analysis conclusion: Will ADA break past $1.50?
To summarize the preceding analysis, the bulls are attempting to push the price value over the $1.39 resistance level. As the data are updated, the RSI score is also showing to be positive. The cryptocurrency is now trading at $1.08, and there’s a good chance it’ll stay there. The trend lines will then go even farther to the positive side. However, if a lower support level exists, the market may enter a negative trend.
Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.
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