Cardano

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/key-levels-to-watch-for-cardano-ada-price-movements/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Key Levels to Watch for Cardano (ADA) Price Movements</a><br></p>
<p style="text-align: justify">One of the popular altcoins of 2021, <a href="https://en.coin-turk.com/cardano-experiences-significant-decline-over-48-hours/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cardano</a> (<a href="https://en.coin-turk.com/cardano-ada-new-developments-and-potential-growth-outlook/" data-wpel-link="internal" rel="noopener noreferrer nofollow">ADA</a>), is currently trading significantly below its $3 peak level. Particularly, ADA investors who entered at levels above $0.7 have been waiting for a while. So, what levels should be watched for the cryptocurrency ADA in the coming period? Let’s take a look at the details.</p>
<h2 style="text-align: justify" id="these-levels-should-be-watched-for-cardano-ada">These Levels Should Be Watched for Cardano (ADA)</h2>
<p style="text-align: justify">The altcoin Cardano (ADA) has been exhibiting a notably attractive performance recently. The cryptocurrency is gaining momentum above the $0.635 resistance area, which is drawing investors’ attention. Specifically, ADA’s consolidation of gains and targeting further increases above the $0.70 resistance is creating a positive sentiment in the market.</p>
<p style="text-align: justify">According to current data, the ADA price is trading above $0.640 and is above the 100 simple moving average on the 4-hour chart. On the ADA/USD pair’s 4-hour chart, a significant upward trend line is forming with support at $0.6350. This indicates that the bullish trend is still in effect.</p>
<h2 style="text-align: justify" id="what-caused-the-increase">What Caused the Increase?</h2>
<p style="text-align: justify">The recent price increase of the cryptocurrency Cardano is due to the formation of a solid base above the $0.5650 level in the past. Subsequently, the ADA price captured a positive momentum by breaking above the $0.600 and $0.6220 resistance levels. However, despite breaking above the $0.650 resistance area, bears became active near the $0.700 resistance zone.</p>
<p><img loading="lazy" decoding="async" loading="lazy" class="wp-image-321608 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ada-coin-coin-turk-.png" alt="" width="1518" height="646"></p>
<p style="text-align: justify">The highest level was around $0.7084, followed by a downward correction in the price. However, this correction did not prevent altcoin ADA from trading above $0.640 and the 100 simple moving average. Therefore, looking at the technical indicators, it is seen that for ADA/USD, the RSI is above the 50 level, and the MACD is losing momentum in the bullish zone.</p>
<h2 style="text-align: justify" id="which-levels-should-be-monitored">Which Levels Should Be Monitored?</h2>
<p style="text-align: justify">In the upcoming period, it is expected that the altcoin ADA price will continue to hold near the $0.6350 support level. However, in the event of a downward move, the $0.6220 support level stands out as an important breakpoint. Below this level, a test of $0.600 could be anticipated.</p>
<p style="text-align: justify">On the other hand, if the altcoin ADA price continues its ascent, the $0.6750 resistance level is said to play a significant role. Overcoming this resistance level could potentially target the $0.6920 and $0.7000 resistance levels.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/key-levels-to-watch-for-cardano-ada-price-movements/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Key Levels to Watch for Cardano (ADA) Price Movements</a></h5>

Key Levels to Watch for Cardano (ADA) Price Movements

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