ADA Price Prediction – Can Cardano Bulls Overcome This Key Hurdle?
08 Mayo 2024 - 11:18PM
NEWSBTC
Cardano (ADA) is attempting a fresh increase above the $0.4500
resistance zone. ADA could gain bullish momentum if it settles
above the 100 SMA (H4). ADA price is slowly moving high above the
$0.450 zone. The price is trading below $0.480 and the 100 simple
moving average (4 hours). There was a break above a key bearish
trend line with resistance at $0.4580 on the 4-hour chart of the
ADA/USD pair (data source from Kraken). The pair could gain bullish
momentum if there is a clear move above $0.470. Cardano Price
Attempts Fresh Increase In the past few days, Cardano started a
recovery wave from the $0.4180 zone, like Bitcoin and Ethereum. ADA
price broke the $0.4350 and $0.4420 levels to move into a
short-term bullish zone. There was a move above the 23.6% Fib
retracement level of the downward move from the $0.5227 swing high
to the $0.4180 low. Besides, there was a break above a key bearish
trend line with resistance at $0.4580 on the 4-hour chart of the
ADA/USD pair. Cardano is now trading below $0.480 and the 100
simple moving average (4 hours). On the upside, immediate
resistance is near the $0.4650 zone and the 100 simple moving
average (4 hours). The first resistance is near $0.470 or the 50%
Fib retracement level of the downward move from the $0.5227 swing
high to the $0.4180 low. The next key resistance might be $0.4980.
If there is a close above the $0.4980 resistance, the price could
start a strong rally. Source: ADAUSD on TradingView.com In the
stated case, the price could rise toward the $0.5250 region. Any
more gains might call for a move toward $0.5650. Another Decline in
ADA? If Cardano’s price fails to climb above the $0.470 resistance
level and the 100 simple moving average (4 hours), it could start
another decline. Immediate support on the downside is near the
$0.450 level. The next major support is near the $0.4350 level. A
downside break below the $0.4350 level could open the doors for a
test of $0.4180. The next major support is near the $0.3880 level.
Technical Indicators 4 hours MACD – The MACD for ADA/USD is losing
momentum in the bearish zone. 4 hours RSI (Relative Strength Index)
– The RSI for ADA/USD is now above the 50 level. Major Support
Levels – $0.4500, $0.4350, and $0.4180. Major Resistance Levels –
$0.4700, $0.4980, and $0.5250.
Cardano (COIN:ADAUSD)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Cardano (COIN:ADAUSD)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024