Cardano (ADA) Price Analysis: This Support Might Trigger Bullish Wave
The post Cardano (ADA) Price Analysis: This Support Might Trigger Bullish Wave appeared on BitcoinEthereumNews.com. ADA price is attempting a fresh increase above the $0.250 zone against the US Dollar. The price is now trading above $0.250 and the 55 simple moving average (4 hours). There is a key rising channel forming with support near $0.2485 on the 4-hour chart (data feed via Coinbase). The price could gain bullish momentum if it clears the $0.2550 and $0.2580 levels. Cardano price is holding the $0.250 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the $0.258 resistance. Cardano Price (ADA) Analysis This past week, Cardano price started a fresh decline from well above the $0.2600 zone against the US Dollar. The ADA/USD pair declined below the $0.2580 and $0.2550 support levels. It tested the $0.2425 zone. A low was formed near $0.2424 and the price recently started a fresh increase. There was a move above the $0.248 and $0.250 resistance levels. The price even spiked above the 50% Fib retracement level of the downward move from the $0.2672 swing high to the $0.2424 low. ADA price is now trading above $0.250 and the 55 simple moving average (4 hours). There is also a key rising channel forming with support near $0.2485 on the 4-hour chart. On the upside, immediate resistance is near the $0.2550 zone. The next major resistance is near the $0.258 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.2672 swing high to the $0.2424 low. A clear move above the $0.258 resistance might start a steady increase. In the stated case, the price may perhaps rise toward the $0.265 resistance or even $0.272 in the near term. On the downside, immediate support is near the $0.250 level. The next major support is near the $0.248 level or the…
The post Cardano (ADA) Price Analysis: This Support Might Trigger Bullish Wave appeared on BitcoinEthereumNews.com.
ADA price is attempting a fresh increase above the $0.250 zone against the US Dollar. The price is now trading above $0.250 and the 55 simple moving average (4 hours). There is a key rising channel forming with support near $0.2485 on the 4-hour chart (data feed via Coinbase). The price could gain bullish momentum if it clears the $0.2550 and $0.2580 levels. Cardano price is holding the $0.250 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the $0.258 resistance. Cardano Price (ADA) Analysis This past week, Cardano price started a fresh decline from well above the $0.2600 zone against the US Dollar. The ADA/USD pair declined below the $0.2580 and $0.2550 support levels. It tested the $0.2425 zone. A low was formed near $0.2424 and the price recently started a fresh increase. There was a move above the $0.248 and $0.250 resistance levels. The price even spiked above the 50% Fib retracement level of the downward move from the $0.2672 swing high to the $0.2424 low. ADA price is now trading above $0.250 and the 55 simple moving average (4 hours). There is also a key rising channel forming with support near $0.2485 on the 4-hour chart. On the upside, immediate resistance is near the $0.2550 zone. The next major resistance is near the $0.258 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.2672 swing high to the $0.2424 low. A clear move above the $0.258 resistance might start a steady increase. In the stated case, the price may perhaps rise toward the $0.265 resistance or even $0.272 in the near term. On the downside, immediate support is near the $0.250 level. The next major support is near the $0.248 level or the…
What's Your Reaction?
