Cardano

Rally

Resistance

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<ul> 
 <li style="font-weight: 400">Cardano (ADA) <a href="https://coinstats.app/coins/cardano/">price</a> is attempting a fresh increase from the $0.4050 zone against the US Dollar.</li> 
 <li style="font-weight: 400">The price is now trading above $0.500 and the 55 simple moving average (4 hours).</li> 
 <li style="font-weight: 400">There was a break above a major bearish trend line with resistance at $0.500 on the 4-hour chart (data feed via Coinbase).</li> 
 <li style="font-weight: 400">The price could gain bullish momentum if it clears the $0.5150 and $0.540 levels.</li> 
</ul> 
Cardano (ADA) price is holding the $0.480 support against the US Dollar, like Bitcoin. ADA price could gain bullish momentum if it clears the $0.5150 resistance. 
<h3 id="span-style-font-weight-400-cardano-price-ada-analysis-span">Cardano Price (ADA) Analysis</h3> 
Earlier this month, Cardano price started a fresh decline from well above the $0.60 zone against the US Dollar. The ADA/USD pair declined below the $0.550 and $0.500 support levels. 
It tested the $0.400 zone. A low was formed near $0.4051, and the price recently started a fresh increase.&nbsp; 
There was a move above the $0.4650 and $0.480 resistance levels. The price even climbed above the 23.6% Fib retracement level of the downward move from the $0.6241 swing high to the $0.4051 low. 
There was a break above a major bearish trend line with resistance at $0.500 on the 4-hour chart. ADA price is now trading above $0.500 and the 55 simple moving average (4 hours). 
On the upside, immediate resistance is near the $0.5150 zone or the 50% Fib retracement level of the downward move from the $0.6241 swing high to the $0.4051 low.&nbsp; 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/will-cardano-ada-rally-to-0-6-now-key-insights-for-ada-investors/" aria-label="“Will Cardano (ADA) Rally To $0.6 Now? Key Insights For Ada Investors” (Edit)">Will Cardano (ADA) Rally To $0.6 Now? Key Insights For Ada Investors</a> 
The next major resistance is near the $0.540 level. A clear move above the $0.540 resistance might start a steady increase. 
In the stated case, the price may perhaps rise toward the $0.5750 resistance or even $0.600 in the near term. On the downside, immediate support is near the $0.500 level. 
The next major support is near the $0.480 level. A clear move below the $0.480 level might send the price toward the $0.420 level. Any more losses might send the price toward the $0.4050 support, below which the bears could aim for a test of $0.3650. 
<figure id="attachment_71024" aria-describedby="caption-attachment-71024" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-71024" src="https://bitcoinworld.co.in/wp-content/uploads/ADA-Price-Chart-8-483x300.png" alt="" width="597" height="371" srcset="https://bitcoinworld.co.in/wp-content/uploads/ADA-Price-Chart-8-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/ADA-Price-Chart-8.png 760w" sizes="(max-width: 597px) 100vw, 597px">
 <figcaption id="caption-attachment-71024" class="wp-caption-text">
 ADA Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
The chart indicates that ADA price is now trading above $0.500 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.5150 and $0.540 levels. 
<h3 id="span-style-font-weight-400-technical-indicators-span">Technical Indicators</h3> 
<ul> 
 <li style="font-weight: 400">4 hours MACD – The MACD for ADA/USD is now gaining pace in the bullish zone.</li> 
 <li style="font-weight: 400">4 hours RSI – The RSI for ADA/USD is now above the 50 level.</li> 
 <li style="font-weight: 400">Key Support Levels – $0.500 and $0.480.</li> 
 <li style="font-weight: 400">Key Resistance Levels – $0.5150 and $0.540.</li> 
</ul> 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
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The post <a href="https://bitcoinworld.co.in/cardano-ada-price-analysis-bulls-aim-steady-increase/">Cardano (ADA) Price Analysis: Bulls Aim Steady Increase</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Cardano (ADA) Price Analysis: Bulls Aim Steady Increase

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