Bitcoin
A$ 88,112
WINkLink
A$ 0.0008641
Ethereum
A$ 5,513.5

Cardano (ADA) Price Analysis: Trading Near Crucial Juncture

  • ADA price struggled to clear the $1.285 resistance and corrected lower against the US Dollar.
  • The price is still above the $1.160 support and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $1.200 on the 4-hours chart (data feed via Bitfinex).
  • The price could either rally above $1.200 or it might break $1.160 for a fresh decline.

Cardano price is trading near a key juncture below $1.200 against the US Dollar, while bitcoin is rising. ADA price must settle above $1.200 for a strong upward move.

Cardano Price Analysis

Cardano price started a steady increase from the $1.040 support against the US Dollar. The ADA/USD pair broke many important hurdles near $1.125 and $1.160 to move into a bullish zone.

There was also a break above the $1.200 resistance and a close above the 55 simple moving average (4-hours). However, the price struggled to clear the $1.285 resistance zone. A high was formed near $1.286 and the price recently corrected lower.

There was a break below the 23.6% Fib retracement level of the upward move from the $1.040 swing low to $1.286 high. The price is still above the $1.160 support and the 55 simple moving average (4-hours).

It seems like there is a major support forming near the $1.160 level and 55 simple moving average (4-hours). It is also close to the 50% Fib retracement level of the upward move from the $1.040 swing low to $1.286 high. There is also a key bearish trend line forming with resistance near $1.200 on the 4-hours chart.

If there is an upside break above the trend line, the price could rally towards the $1.285 and $1.300 resistance levels. The next major resistance is near the $1.420 level.

Conversely, the price might fail to climb above $1.200 and continue to move lower. A downside break below $1.160 could clear the path for a sharp decline. The next main support is near the $1.098.

Cardano (ADA) Price

Cardano (ADA) Price

The chart indicates that ADA price is clearly facing a strong resistance near $1.200. Overall, the price could either rally above $1.200 or it might break $1.160 for a fresh decline.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is struggling to gain pace in the bullish zone.

4 hours RSI – The RSI for ADA/USD is now just above the 50 level.

Key Support Levels – $1.160 and $1.098.

Key Resistance Levels – $1.200 and $1.285.

The post Cardano (ADA) Price Analysis: Trading Near Crucial Juncture appeared first on Live Bitcoin News.

Related Posts

Leave a Reply

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Donate To Cryptonic Australia


Donate BTC: 1MPYuHUKm3AhNivMSngqLnoEbpNEecHeEK
Donate Doge: DDYybw7H8zx8EYU74JrGW8WwmYh9AGuyMC
Donate WinK: TDiXutqKE3P17LpZMQh3SDBCGSkAC6iEjB




LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains
October 20, 2021
Recoverybitcoins
October 20, 2021
Medical Firm In Mexico To Introduce COVID-19 Testing Through Blockchain
October 20, 2021




LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains
October 20, 2021
Recoverybitcoins
October 20, 2021
Medical Firm In Mexico To Introduce COVID-19 Testing Through Blockchain
October 20, 2021


CryptoCurrencyAUDChange 1hChange 24hChange 7d
Bitcoin88,112 0.51 % 3.59 % 17.59 %
Ethereum5,513.5 0.39 % 7.55 % 18.49 %
Binance Coin669.61 0.20 % 3.51 % 14.32 %
Cardano2.910 0.05 % 3.94 % 3.33 %
Tether1.340 0.29 % 0.53 % 0.27 %
XRP1.520 0.08 % 4.73 % 3.51 %
Solana229.65 0.05 % 10.43 % 13.59 %
Polkadot59.21 0.15 % 7.61 % 26.71 %
Dogecoin0.3406 0.12 % 4.15 % 13.12 %
USD Coin1.340 0.19 % 0.43 % 0.26 %

Recent Comments

Allison wick

I was a victim of WDC Markets investment scam some months ago myself. It was...

Greatness

he is the best when it comes to recovery, he helped recover my funds without...

URL

... [Trackback] [...] There you will find 63491 more Infos: cryptonic.com.au/evaluation-suggests-bitcoin-robust-palms-are-shopping-for-this-dip/ [...]