Cardano price analysis suggests a move higher to the $0.2600 mark. The nearest support level is at $0.240
ADA faces resistance at the $0.250 mark. Cardano’s price analysis shows that the ADA price function has returned to the $0.2450 mark and is moving towards the $0.2500 level.
The broader cryptocurrency market has seen extreme market sentiment over the past 24 hours, with many major cryptocurrencies seeing positive price movement and little volatility. Major players include XEC and TON, registering declines of 8.19% and 7.46% respectively.
Cardano Price Analysis: ADA crossed the $0.2500 mark
The current MACD is negative, as shown by the green color of the histogram. However, the indicator shows weak strength as seen in the depth of the histogram. On the other hand, the dark color of the indicator shows that the light is increasing in time as the price approaches the $0.2500 mark.
The EMA is currently trading near the mid-point as the net price movement over the past 10 days is still relatively small. In addition, both EMAs are closing, indicating weak strength on either side of the market. At the same time, various EMAs suggest an increase in trading in the market.
The RSI dipped briefly into the oversold zone when the price hit $0.2400, but quickly rebounded when the price stabilized at that level. Currently the index is trading at the level of 54.10 units with a vertical upward slope.
The indicator does not give a current signal while the vertical slope suggests pressure during the click. Bollinger Bands formed as the price quickly fell to the $0.2400 mark, but began to support as the ADA continued to trade near the $0.2450 mark. At the time of press, the bottom line of the indicator provides support at $0.2408 while the top line indicates a stop at $0.2497. Technical analysis for
Overall, Cardano’s 4-hour price analysis provides a buy signal, with 11 of 26 key technical indicators supporting bears. On the other hand, six of the bearish indicators show a strong presence in recent hours. At the same time, nine shows are sitting on the fence and not supporting any part of the market.
Cardano’s 24-hour price analysis does not share this view but instead gives a sell signal with 14 indicators suggesting a downward movement against only two of the indicators showing an upward movement. The analysis shows bearish potential on the short-term charts, while bearish buying pressure exists for the asset at the same time. So far, ten shows remain unscored at press time.
What to Expect from Cardano Price Analysis?
Cardano price analysis shows that when it fell to $0.2400. The price quickly returned to the $0.2500 mark but failed to make any gains. Since then, the price is preparing to approach the $0.2500 mark. Traders should expect the ADA to rise to the $0.2600 mark as the bulls take power from the bears.
While the 24-hour chart is still bullish, that’s because the short-term technical data hasn’t reacted to recent moves. If ADA breaks above the $0.2500 mark, the bulls will start a move towards the $0.3000 mark. However, low pressure still disrupts price action, which can make this difficult.