- ADA price is struggling to climb above the $0.2920 zone against the US Dollar.
- The price is now trading near $0.288 and the 55 simple moving average (4 hours).
- There is a connecting bullish trend line forming with support near $0.2850 on the 4-hour chart (data feed via Coinbase).
- The price could gain bullish momentum if it clears the $0.292 and $0.302 levels.
Cardano price is holding the $0.276 support against the US Dollar, similar to Bitcoin. ADA price could gain bullish momentum if it clears the $0.302 resistance.
Cardano Price Analysis
This past week, Cardano price saw a decent upward move from the $0.276 support against the US Dollar. The ADA/USD pair was able to climb above the $0.285 and $0.292 resistance levels.
However, the bears were active near the $0.302 zone. A high is formed near $0.3018 before there was a fresh decline. A low is formed near $0.2768 and the price is now rising. It broke the 50% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2768 low.
ADA is now trading near $0.288 and the 55 simple moving average (4 hours). There is also a connecting bullish trend line forming with support near $0.285 on the 4-hour chart.
On the upside, immediate resistance is near the $0.292 zone. It is close to the 61.8% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2768 low. The next major resistance is near the $0.302 level.
A clear move above the $0.302 resistance might start a steady increase. In the stated case, the price may perhaps rise toward the $0.325 resistance or even $0.332.
On the downside, immediate support is near the $0.285 level. The next major support is near the $0.276 level. A clear move below the $0.276 level might send the price toward the $0.265 level. Any more losses might send the price toward the $0.242 support, below which the bears could aim for a test of $0.225.
The chart indicates that ADA price is now trading near $0.288 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.292 and $0.302 levels.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now losing pace in the bullish zone.
4 hours RSI – The RSI for ADA/USD is now above the 50 level.
Key Support Levels – $0.285 and $0.276.
Key Resistance Levels – $0.292 and $0.302.
- 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. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://www.livebitcoinnews.com/cardano-ada-price-analysis-is-the-recovery-just-getting-started/
- :is
- 50
- a
- Able
- above
- active
- ADA
- ada price
- ADA/USD
- against
- aim
- also
- analysis
- and
- any
- average
- Bears
- before
- below
- Bitcoin
- Bitcoin News
- Broke
- Bullish
- Cardano
- Cardano (ADA)
- cardano price
- case
- Chart
- clear
- climb
- Close
- coinbase
- Connecting
- could
- data
- Decline
- Dollar
- downside
- downward
- Even
- For
- formed
- fresh
- from
- Gain
- getting
- High
- holding
- HOURS
- HTTPS
- if
- immediate
- in
- Increase
- indicates
- IT
- just
- Level
- levels
- Line
- live
- Live Bitcoin News
- losing
- 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
- recovery
- Resistance
- retracement
- Rise
- rising
- rsi
- saw
- send
- similar
- Simple
- start
- started
- stated
- steady
- Struggling
- support
- support levels
- Swing
- test
- that
- The
- There.
- to
- toward
- Trading
- TradingView
- Trend
- Upside
- upward
- us
- US Dollar
- via
- was
- week
- were
- which
- with
- zephyrnet