Cardano

Cryptocurrency

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   Oct 25, 2023 at 10:10 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/65b/900_900_1/oyiewzvxwbst8q77pgcwe0mxlnu5m75g.jpg" width="900" height="563" alt="Cardano has the advantage of rising during a positive trend" title="">
 <p><strong>Cryptocurrency analysts of Coinidol.com report, the price of Cardano (ADA) has regained upward momentum after breaking above the moving average lines. </strong></p>
 <h2 style="text-align: justify;" id="cardano-price-long-term-forecast-bullish">Cardano price long-term forecast: bullish</h2>
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 <p style="text-align: justify;">The cryptocurrency asset has continued its up<a rel="noopener noreferrer nofollow" title="trend" href="https://thebittimes.com/tag/trend.html">trend</a> and has retraced above the $0.27 support level in search of a new upside momentum. At the time of writing, the price of ADA/USD is at $0.28. Cardano's action radius has been exhausted.</p>
 <p style="text-align: justify;">The altcoin moved between $0.24 and $0.27 in the last price movement. The bulls broke through the resistance at $0.27 and retested it to continue their upward movement. The current up<a rel="noopener noreferrer nofollow" title="trend" href="https://thebittimes.com/tag/trend.html">trend</a> of the buyers will continue to a high of $0.32 if they can overcome the initial obstacle at $0.29. The cryptocurrency value will enter a range-bound area if the bears break the $0.27 support. Meanwhile, the altcoin has been trading between $0.27 and $0.29 over the past 48 hours.</p>
 <h2 style="text-align: justify;" id="cardano-indicator-analysis">Cardano indicator analysis</h2>
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 <p style="text-align: justify;">The price bars are now above the moving average lines as a result of the recent breakout. Cardano has the advantage of rising during a positive <a rel="noopener noreferrer nofollow" title="trend" href="https://thebittimes.com/tag/trend.html">trend</a>. The altcoin will fall into the range-bound region if the bears manage to break the existing support. The decline of the altcoin will cause the cryptocurrency to run sideways even further.</p>
 <p style="text-align: justify;"><img width="988" alt="ADAUSD_ (Daily Chart) – OCT. 25.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/25/44ea397bb3212ae8381a61fdb0c74fd0.webp" height="581" title="ADAUSD_ (Daily Chart) – OCT. 25.23.jpg"><br></p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators</h3>
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 <p style="text-align: justify;"><b>Key resistance zones: $0.30, $0.35, $0.40 </b></p>
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 <p style="text-align: justify;"><b> Key support zones: $0.20, $0.15, $0.10</b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-move-for-cardano">What is the next move for Cardano?</h2>
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 <p style="text-align: justify;">The 4-hour chart of ADA/USD shows an up<a rel="noopener noreferrer nofollow" title="trend" href="https://thebittimes.com/tag/trend.html">trend</a>. The price of the cryptocurrency is forming a series of higher highs and higher lows. According to the price indicator, the value of Cardano could continue to rise. A retraced candlestick tested the 61.8% Fibonacci retracement level of the October 24 upswing. The retracement suggests ADA will rise to the Fibonacci extension of 1.618 or $0.316. According to the price activity, the altcoin has reached a high of $0.281.</p>
 <p style="text-align: justify;"><img width="988" alt="ADAUSD_ (4 Hour Chart) – OCT. 25.23.jpg" src="https://cdn.thebittimes.com/images/2023/10/25/f6cf599afec72ae30a14632a278c8069.webp" height="581" title="ADAUSD_ (4 Hour Chart) – OCT. 25.23.jpg"><br></p>
 <p style="text-align: justify;">As we reported on October 18, on October 12, the cryptocurrency fell to a low of $0.242 before recovering. Cardano would have fallen even further if the support level of $0.24 had been breached.&nbsp;</p>
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 <p style="text-align: justify;"><i><span style="color: #a0a0a0;"><b>Disclaimer.</b>&nbsp;This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cardano-holds-above-0-27-and-continues-its-uptrend-tbt67721.html">https://thebittimes.com/cardano-holds-above-0-27-and-continues-its-uptrend-tbt67721.html</a></p>

Cardano Holds Above $0.27 And Continues Its Uptrend

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