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Cardano Price Analysis:‌ ADA Building momentum while Heading towards its resistance $0.97

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  • Cardano (ADA) moving towards the resistance of $0.97 while taking the support of the 20-Day Moving Averages
  • The pair of ADA/BTC is trading on the Bearish note, presently trading at 0.00001749 BTC with an intraday loss of -1.03%
Source:tradingview

Cardano (ADA) is trading on a bullish note and heading towards the new all-time high of $0.97, while it has found support around $0.70. Presently ADA is trading above all the major moving averages of 20,50,100 and 200, which indicates its strong uptrend. The support on lower levels is placed at $0.70 and $0.52, while $0.38 can be considered strong support. Resistance on the higher side is situated at $0.97. Likewise, the breakout above the $0.97 can lead ADA to $1.00 and $1.20. The volume is supportive of the further upcoming trading session.

Source:tradingview

Cardano (ADA) is trading in a sideways trend as the price consolidation is observed. ADA is presently trading in the narrow Bollinger Bands (BB) channel, while the indicators also support sideways trends. Currently, the coin trading at $0.9280 with an intraday loss of -1.52%, while the volume recorded is dropped at -26.44%, standing at $4,671,255,678. The market capitalization stands at $28,787,627,148. The support on the daily chart is situated at $0.88 and $0.85. Likewise, the resistance is placed around $0.97 and $1.00.

Relative Strength Index (Bullish) indicates Bullish momentum while trading at 62.02. However, it is trading flat towards the overbought territory after recovering from lower levels.

Moving Average Convergence Divergence (Bullish) currently indicates a Bullish trend on the daily chart, as is trading with the significance of the buyer’s line (green) over the seller’s signal line (red).

Support levels: $0.70 and $0.52

Resistance levels: $0.97.

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