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Cardano Price Analysis: ADA is Showing Extremely Bearish Signs at $0.3146 Cryptopolitan

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Cardano’s price analysis shows bullish momentum as the price rises today. After gaining a lot of value yesterday, the coin price has continued to rise and the range continues to move upwards. The bulls have recouped the losses from the start of the week as the trend was mostly down. But as the market started to recover yesterday, ADA was one of the biggest gainers and the bullish trend has brought the price back to $0.3146 today.

Next resistance for ADA is at $0.3173 while current support is at $0.3083. The bears were also strong in the market and also managed to push the price down. However, it seems that the bullish trend is hard to resist and has pushed the price higher today.

Cardano Price Analysis 1-Day Price Chart: ADA Will Retrace $0.3173 As Resistance

The 24-hour Cardano price analysis shows that the ADA/USD pair is still in an uptrend as the bulls now look to challenge the $0.3173 resistance, which will soon be tested. The next target for the bulls is the previous swing high of $0.3173 seen yesterday but the bulls couldn’t hold the position for long as the price slid down the next day and now this is the next level for the bulls face it. There is inline resistance. ,

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

The moving average (MA) is trading near the $0.3172 level after crossing above the SMA 50 curve, forming a bullish crossover. The Relative Strength Index (RSI) index is trading with a sharp upward slope near the overbought limit at 38.49, indicating current buying activity. The MACD indicator shows bullish activity and a possible crossover soon, which will further reinforce the positive sentiment for the bulls.

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Cardano Price Analysis: Recent Developments and Further Technical Signals

The 4-hour Cardano price analysis shows that ADA is continuing its higher range as the price has been in an uptrend for the past few hours. The correction seen at the close of the previous trading session also continued through the first four hours of today’s trading session with a downward price breakout, but later the bulls staged an aggressive comeback and posted further gains.

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

The MACD indicator is showing bullish momentum, but the price is also encountering resistance from the short-term moving average curve at $0.3140. The hourly RSI indicator is trading at 49.82, which means that the bulls currently have the upper hand in the market and there are more chances for an upward move. The MA indicator has been active for 4 hours and is currently at $0.3140.

cardano price analysis conclusion

Cardano price analysis shows that the cryptocurrency is on a bullish swing today. It is a very encouraging sign for the buyers if the coin can maintain its price level for the next few days, but trading the market can be risky, which is why it is important to follow a good strategy. Nevertheless, overall sentiment in the market looks positive and investors are likely to continue to see a return on their investment.

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

Source: www.cryptopolitan.com

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