- ADA price is attempting a fresh increase from the $0.565 zone against the US Dollar.
- The price is now trading above $0.600 and the 55 simple moving average (4 hours).
- There was a break above a key bearish trend line with resistance near $0.5900 on the 4-hour chart (data feed via Coinbase).
- The price could gain bullish momentum if it clears the $0.640 and $0.650 levels.
Cardano price is holding the $0.600 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the $0.650 resistance.
Cardano Price (ADA) Analysis
This past week, Cardano price started a fresh decline from well above the $0.640 zone against the US Dollar. The ADA/USD pair declined below the $0.620 and $0.600 support levels.
It tested the $0.5650 zone. A low was formed near $0.5681, and the price recently started a fresh increase. There was a move above the $0.600 and $0.605 resistance levels. The price even climbed above the 50% Fib retracement level of the downward move from the $0.6413 swing high to the $0.5681 low.
Besides, there was a break above a key bearish trend line with resistance near $0.590 on the 4-hour chart. ADA price is now trading above $0.620 and the 55 simple moving average (4 hours).
It is also above the 76.4% Fib retracement level of the downward move from the $0.6413 swing high to the $0.5681 low. On the upside, immediate resistance is near the $0.640 zone. The next major resistance is near the $0.650 level.
A clear move above the $0.650 resistance might start a steady increase. In the stated case, the price may perhaps rise toward the $0.680 resistance or even $0.700 in the near term.
On the downside, immediate support is near the $0.6120 level. The next major support is near the $0.600 level. A clear move below the $0.600 level might send the price toward the $0.5650 level. Any more losses might send the price toward the $0.5500 support, below which the bears could aim for a test of $0.5320.
The chart indicates that ADA price is now trading above $0.610 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.640 and $0.650 levels.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now gaining pace in the bullish zone.
4 hours RSI – The RSI for ADA/USD is now above the 50 level.
Key Support Levels – $0.600 and $0.565.
Key Resistance Levels – $0.640 and $0.650.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.livebitcoinnews.com/cardano-ada-price-analysis-bulls-eye-fresh-high-above-0-65/
- :is
- 50
- 600
- 610
- 65
- 700
- a
- above
- ADA
- ada price
- ADA/USD
- against
- aim
- also
- analysis
- and
- any
- attempting
- average
- bearish
- Bears
- below
- Bitcoin
- Bitcoin News
- Break
- Bullish
- Bulls
- Cardano
- Cardano (ADA)
- cardano price
- case
- Chart
- clear
- Climbed
- coinbase
- could
- data
- Decline
- Dollar
- downside
- downward
- Even
- eye
- For
- formed
- fresh
- fresh increase
- from
- Gain
- gaining
- High
- holding
- HOURS
- HTTPS
- if
- immediate
- in
- Increase
- indicates
- IT
- Key
- Level
- levels
- like
- Line
- live
- Live Bitcoin News
- losses
- Low
- MACD
- major
- max-width
- May..
- might
- Momentum
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- or
- overall
- Pace
- pair
- past
- perhaps
- plato
- Plato Data Intelligence
- PlatoData
- price
- Price Analysis
- recently
- Resistance
- retracement
- Rise
- rsi
- send
- Simple
- start
- started
- stated
- steady
- support
- support levels
- Swing
- term
- test
- tested
- that
- The
- There.
- to
- toward
- Trading
- TradingView
- Trend
- Upside
- us
- US Dollar
- via
- was
- week
- WELL
- which
- with
- zephyrnet
- zone