Cardano Price Analysis: Dips in ADA/USD Remains Supported

2018-7-23 11:30

Key Highlights ADA price started a nice upside move after testing the $0.1550 support against the US Dollar (tethered). There was a break above a crucial bearish trend line with resistance at $0.1650 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is currently placed above the 100 hourly simple moving average and the $0.1700 support.

Cardano price is gaining momentum against the US Dollar and Bitcoin. ADA/USD is likely to move further higher above the $0.1800 level in the near term.

Cardano Price Analysis

After a major downside correction, cardano price found support above the $0.1500 level against the US Dollar. The ADA/USD pair formed a low at $0.1542 and later started an upside move. It traded above the $0.1600 resistance to start a decent recovery. The price also broke the 23.6% Fib retracement level of the last drop from the $0.1970 high to $0.1542 low.

Moreover, there was a break above a crucial bearish trend line with resistance at $0.1650 on the hourly chart of the ADA/USD pair. The pair also succeeded in settling above the $0.1700 level and the 100 hourly simple moving average. It has opened the doors for more gains above $0.1800 in the near term. An immediate resistance is at $0.1800 and the 61.8% Fib retracement level of the last drop from the $0.1970 high to $0.1542 low. Should there be a break above these, the price could accelerate back towards the $0.1900 and $0.1950 levels.

The chart indicates that the price is slowly moving higher and is well supported near $0.1700. If the price corrects lower from the current levels, it may perhaps find support near $0.1710 and the 100 hourly SMA. There is also a bullish trend line with support at $0.1710 on the same chart.

Hourly MACD – The MACD for ADA/USD is slowly moving in the bullish zone.

Hourly RSI – The RSI for ADA/USD is currently well above the 50 level.

Major Support Level – $0.1700

Major Resistance Level – $0.1800

The post Cardano Price Analysis: Dips in ADA/USD Remains Supported appeared first on NewsBTC.

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Cardano (ADA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.576
Капитализация $0 Rank 99999
Цена в час новости $ 0.173973 (-100%)

ada price usd hourly above cardano pair

Источник: newsbtc.com

ada price → Результатов: 36


Cardano (ADA) Price Bound for Another Correction Despite Already Immense Fall

To conclude, there are three reasons why the ADA price trend is considered bearish: The breakdown from the $0.350 horizontal area The invalidation of the bullish divergence trendline in the weekly RSI ADA's long-term descending resistance line The post Cardano (ADA) Price Bound for Another Correction Despite Already Immense Fall appeared first on BeInCrypto.

2022-12-29 19:45


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