ADA Price‌ ‌Analysis:‌ Cardano token bulls near its 200-support line

  • Cardano token is trading near its strong or vital moving average of 200-day, whereas the volume is also lower.
  • Presently, the digital asset is trading below vital moving averages of 20, 50, and 100-DMA, while the token currently holds 200-DMA support.
  • The pair of ADA /BTC is trading with a loss of -0.82% at 0.00003724 BTC, and the ratio of ADA /ETH is dealing with slight selling pressure at 0.0006217 ETH with a 24-hour change of -2.22%.
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Cardano token price is trading on a bearish note while making lower lows and higher highs patterns. Moreover, the coin now reaches its support zone of 200-DMA, and the volume is also lower. The coin is currently trading below vital moving averages of 20, 50, and 100-DMA, whereas it still holds 200-DMA support.

The coin faces a substantial hurdle of 50 and 100-day moving average, and the volume needs to improve for a positive breakout in the upcoming trading sessions. Support on the lower side is at $1.12 and $1.00, whereas resistance on the higher side is $1.36 and $1.49.

Cardano token is projecting solid bearish momentum at the weekly time frame

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Cardano token is projecting solid bearish momentum at the weekly time frame while making lower highs and lower low patterns. Moreover, the technical parameters are gradually indicating a bullish or positive trend in upcoming trading sessions. However, the 4-hour time frame volume is lower, which falls below the average line and needs to improve for a positive breakout. Currently, the coin is trading at $1.17 with an intraday loss of -1.12%, and the volume to market cap ratio is at 0.01976.

Relative Strength Index (bullish)Cardano token price RSI presently indicates a slightly bullish or positive trend over the weekly chart. In contrast, the RSI is heading towards the overbought zone CMP levels at 43.25.

Moving Average Convergence Divergence (bullish) indicates a slightly positive or bullish trend on the daily chart. This is because of the buyer’s signal line (green) over the seller’s line (red).

Support levels: $1.12 and $1.00

Resistance levels: $1.36 and $1.49.

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