#ADABTC – #Cardano, ready for break-out? – #ADABTC chart http://www.tradingview.com/chart/ADABTC/zXsyA0fN-ADABTC-Cardano-ready-for-break
As far as the top crypto markets are concerned, there aren’t any notable gains to speak of. Nor are there spectacular losses to take note of, although that doesn’t necessarily mean these markets are in a good place right now. The Cardano price has risen the strongest out of the entire top 15 so far, which seems to indicate a lot of interesting things are happening in that market at this time.
Cardano Price Momentum Improves Significantly
It is not entirely uncommon to see most of the top crypto markets deal with some uneasy momentum. This situation has been in place for quite some time now, which is still a direct result of the 2018 bear market. Even in early 2019, that bearish pressure always seems to loom overhead, for some reason. Cardano is not affected by this particular development at this time, which is promising in its own right. Sustaining this uptrend will be a different matter, with the weekend around the corner.
0,050055 USD (5,06%)
$1,30 B USD
$36,68 M USD
To put this in perspective, the Cardano price has risen by 5.7% in both USD and BTC value alike. That in itself is rather interesting to keep an eye on, primarily because so many other top markets note gains of 1.5% or less. Cardano’s current value approaches the $0.05 level again, which may prove to be a new support level or a major hindrance. Either scenario is still in play at this time.
On social media, the Ledger support for Cardano is seemingly far less important than the actual price charts. That is a sign of how this bullish run may come to a halt fairly soon. Crypto Wunderbear expects this run to improve even further, assuming Bitcoin doesn’t spoil the party. It is evident Cardano relies on Bitcoin quite a bit right now, which can prove to be very problematic in the long run.
Nerubica, on the other hand, remains a bit on the fence as to how this price run will play out. Considering how there is nothing to be overly excited about as of yet, it seems this small nudge can easily be squashed. ADA’s Trading volume is also far from impressive, although that particular aspect has not been of too great concern to traders and holders in recent months. With the $0.05 level within reach, there may be a minor push in terms of trading volume over the coming days.
In case ADA does this break-out and overcomes the horizontal accumulation zone, I will become more bullish towards alts in genera
Some traders always try to make the best of the current situation. BitcoinBethke, for example, expects ADA to hit 1m330 Satoshi, which would require another 7% increase compared to the current level. However, this user also indicates it to be a short-term target, which may result in a new decrease shortly afterward. Cryptocurrencies are volatile first and foremost, with Cardano not being an exception in this regard.
Although it is somewhat promising to see Cardano’s value rise while other markets struggle for traction, getting ahead of oneself is never a good sign either. For now, the lack of high trading volume and the main focus on the price, rather than actual developments, can make this a rather short-lived uptrend as long as Bitcoin remains on shaky legs. It could make for a very interesting market to keep an eye on over the weekend, though.
Cardano (ADA) Price Analysis: Upsurge Could Continue Above $0.0530
- ADA price started a strong rise from the $0.0450 support area against the US Dollar.
- The price is currently gaining momentum above $0.0500 and it could continue to rise in the near term.
- There is a strong support forming near $0.0475 and a bullish trend line on the 4-hours chart (data feed via Kraken).
- The price is likely to rally sharply if it breaks the $0.0525 and $0.0530 resistance levels.
Cardano price is gaining bullish momentum against the US Dollar and bitcoin. ADA price could continue to grind higher towards the $0.0530 and $0.0550 levels.
Cardano Price Analysis
Recently, cardano price formed a decent support base near the $0.0450 level against the US Dollar. As a result, the ADA/USD pair started a decent recovery and climbed above the $0.0465 and $0.0475 resistance levels. The recent rise was such that the price settled above the $0.0500 level and the 55 simple moving average (4-hours). Finally, it broke the $0.0510 level and tested the $0.0515 resistance level.
The recent high was formed near $0.0514 and the price is currently showing a lot of positive signs. An immediate support is near the $0.0500 level. Moreover, the 23.6% Fibonacci retracement level of the recent rise from the $0.0457 low to $0.0514 high is also near the $0.0500 level. If there is an extended downside correction, the price could test the $0.0475 support area.
An intermediate support is near the 50% Fibonacci retracement level of the recent rise from the $0.0457 low to $0.0514 high at $0.0486. However, it seems like there is a strong support forming near $0.0475 and a bullish trend line on the 4-hours chart. Therefore, the price remains well supported near the $0.0485 and $0.0475 levels if there is a downside correction.
On the upside, the main resistance is near the $0.0525 and $0.0530 levels. A successful break above the $0.0530 resistance could start a strong upward move towards the $0.0550 level. Any further gains may perhaps push the price towards the $0.0600 resistance area in the coming sessions.
The chart indicates that ADA price is gaining momentum above $0.0500 and it could continue to rise in the near term. However, the bulls might struggle to push the price above the $0.0525 and $0.0530 resistance levels. If they succeed, it could start another strong rise towards the $0.0600 level. On the downside, there are many supports near $0.0485 and $0.0475.
4 hours MACD – The MACD for ADA/USD is currently gaining pace in the bullish zone.
4 hours RSI – The RSI for ADA/USD is currently climbing higher and is approaching the overbought zone.
Key Support Levels – $0.0485 and $0.0475.
Key Resistance Levels – $0.0525 and $0.0530.
Cardano Fails to Retain its Fort; May Seek the Support at $0.045 Soon
- Cardano loses 0.5% in the last 24 hours.
- The next support for Cardano may come at 0.045 USD.
Cardano could not stand the heavy pressure exerted from the market and lost almost half a percent in the last one day. It is now roaming around 0.047 USD. The three price swings of Cardano had a trading range between 0.047 USD and 0.045 USD.
ADA to USD Price Analysis:
Cardano’s first swing started around 01:54 UTC and in the next 11 hours and 9 minutes, it lost 4.31% and got placed at 0.045663 USD, the lowest of the day. Later, it got strengthened by 3.96% and made it to trade around 0.0474666 USD by 21:38 UTC. Later it started falling towards the closing of the day. Between 21:38 UTC and 04:58 UTC, it cut 1.04% to touch 0.046973 USD. This fall had a break at 0.046882 USD.
Cardano Price Prediction:
Cardano has started the price correction process like all other coins and in the next few days, it may have to suffer more. The next support may come at 0.045 USD. However, the medium-term of Cardano is likely to be bullish.
|Cardano (ADA)||Resistance & Support Levels|
|1st Support Level||$0.046|
|2nd Support Level||$0.045|
|3rd Support Level||$0.044|
Cardano (ADA) Price Approaches Key Technical Resistance as Bulls Try to Take Over
Technically, the 11th most significant cryptocurrency is signaling to go down shortly.
- Cardano’s price is rising to a crucial resistance level at $0.049 and at the same time approaching the upper boundary of the channel
- The ADA/USD pair may go bearish if the $0.0433 level could no longer hold as critical technical support for the market
The 11th largest cryptocurrency by market cap, Cardano’s price is currently up by +1.27% in the last few hours of trading, although the market saw a slight drop of about 0.27% yesterday.
Lifting from $0.043 area on August 29, Cardano (ADA) had recorded a monthly high at $0.048. The price movement is now caught in a channel pattern on the 4-hour time frame. If Bitcoin remains in a consolidation mode for a while, we can expect the bullish trend to continue in a short-term.
Cardano’s Current Statistics
Trading Price: $0.047
Market Capitalization: $1,227,905,045
Trading Volume: $43,232,624
Key resistance levels: $0.0471, $0.048, $0.049
Key support levels: $0.0462, $0.045, $0.0444
Cardano (ADA) Price Prediction for September 16, 2019
Cardano is following a short-term bullish trend, making the price to trade around $0.47 at the moment. Now, it appears that the market is about attempting a pullback, although the buyers are still gaining control of the market. We can expect the market to sell to close supports at $0.0462, $0.045, and $0.0444 if a pullback occurs.
If the mentioned supports fail to play out, Cardano will continue to climb back to$0.0471, $0.048 and $0.049 resistance. But as it is now, the bears appeared to be looking for lower price levels. Considering long-term outlook for this market, ADA/USD is still reflecting a dominant bearish bias.
As we can see, Cardano (ADA) is trading inside a channel pattern, which suggests a bullish trend. But the pattern formation is mostly followed by a bearish breakout. If the breakout occurs, the ADA/USD pair will continue its long-term bearish move.
Technical Indicator Reading
The RSI for Cardano is showing a bullish moment after crossing up the 50 level, which means the buyers are still active in the market.
The Stochastic is conversely bullish but hovering around the upper limit for the past two days. This shows that the bulls are getting weak as the price may fall shortly.